Adani Group’s open offer lifts NDTV to 14-year high, stock hits upper limit

Shares of New Delhi Television (NDTV) were locked at the 5 per cent upper circuit, hitting a 14-year high at Rs 384.50 on the BSE on Wednesday as Gautam Adani’s group on Tuesday after market hours said it will buy a majority stake in the TV broadcasting & software production company.

Till 09:16 am; a combined 1.16 million equity shares had changed hands, and there were pending buy orders for 98,170 shares on the NSE and BSE. In comparison, the S&P BSE Sensex was up 0.12 per cent at 59,099 points.

The stock traded at its highest level since August 2008. In the past three months, the stock price of NDTV has zoomed nearly 140 per cent, as compared to 8 per cent rise in the S&P BSE Sensex.