Reports have claimed that Adani is looking to acquire a Delhi-based media house, which many speculate to be NDTV. ETMarkets could not immediately verify these speculations.
On BSE, the stock traded at Rs 79.65, up 9.94 per cent as of 10.40 am.
The market has been buzzing with Adani’s entry into the media sector after Adani Enterprises inducted veteran journalist Sanjay Pugalia as the CEO and editor-in-chief to lead the group’s media initiatives.
Pugalia was earlier the president and editorial director at Quint Digital Media. Before that he headed CNBC-Awaaz, set up Star News in Hindi, headed Zee News and was part of the founding team of AajTak.
As a print journalist, he has worked with Business Standard and Navbharat Times. He was also a regular contributor to BBC Hindi Radio during the 1990s.
NDTV’s financial performance has been patchy. The company’s promoters have also been subject to tax investigations. However, the stock has risen 130 per cent in the last one year.
