Hindustan Media Ventures Limited to participate in tender for new IPL team

The Board of Directors of Hindustan Media Ventures Limited at its meeting held on 24th October, 2021, has accorded approval to participate in the tender pursuant to the Board of Control for Cricket in India's (BCCI) Invitation To Tender (ITT) for the right to own and operate one of two proposed new IPL teams through its 100% subsidiary along with required tender deposit. Actual commencement of the new business line through a 100% subsidiary company, will depend on the outcome of the bidding process. The Board of Directors feels that it will be good diversification for the Company & will help optimize the media assets of the Company.

Shares of Hindustan Media Ventures Limited was last trading in BSE at Rs. 75.40 as compared to the previous close of Rs. 76.60. The total number of shares traded during the day was 19902 in over 612 trades.

The stock hit an intraday high of Rs. 77.10 and intraday low of 74.35. The net turnover during the day was Rs. 1510922.00.

Source : Equity Bulls

Keywords

HindustanMediaVentures INE871K01015 HMVL Publishing BCCITender NewIPLTeam BiddingProcess