India's HT Media down after NCLT disapproves union with HT Mobile Solutions

HT Media

08/03/2023 09:56

** Shares of HT Media Ltd  HTML.NS  fall as much as 2.2% to
18 rupees, lowest since March 2
    ** Owners of Hindustan Times newspaper said on Tuesday that
National Company Law Tribunal (NCLT) did not approve and
sanction the scheme of amalgamation between HT Mobile Solutions
Ltd and HTML 
    ** "Evaluating future course of action" - HTML in a
statement
    ** Stock trading below its 50-, 100-, and 200-day moving
averages, suggesting bearish bias
    ** Trading volume at ~294,200 shares, slightly above the
30-day avg of ~212,400 shares as of 3:15 p.m. IST 
    ** Up to last close, stock was down 16.2% so far this year


 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))