Mobilenews24x7 Bureau
Swimming against many tides the Adani Group seems successfully remaining afloat ion its endeavor to scuttle all adversities.
In a strategic move, Adani Group has enhanced its footprint in media segment. Adani which stepped into the media business last year in March, holds major stakes in two news digital media outlets, but now it has also added leading wires news agency Indo-Asian News Service or IANS to its module. Adani has acquired a 50.50% stake in IANS, making it the largest shareholder in the company. Accordingly, Adani Enterprises and NDTV share prices will be in focus this week
50.50% stake in IANS was acquired by AMG Media Networks which is a wholly-owned subsidiary of the Group’s flagship company Adani Enterprises. Notably, AMG is a parent company of Adani’s only listed media stock NDTV. Hence, traders will react in these two stocks this week over the latest acquisition.
Last week, on Friday, NDTV’s share price at Rs 266.55 apiece, down by 0.98% with m-cap of Rs 1,718.48 crore. On the contrary, Adani Enterprises share settled at Rs 2,990.25 apiece, down by 3.32%. with m-cap of Rs 3,40,888.84 crore.
