India's HT Media rises on deal with retailer Koovs

HT Media

18/06/2018 08:28

** HT Media company's shares  HTML.NS  gain as much as 4.7
pct to 80.5 rupees, their biggest intraday pct gain since April
27
    ** London-listed fashion retailer Koovs PLC  KOOV.L  on
Monday said it has entered into a conditional agreement for 2-
year, 24 mln pound ($31.79 million) deal with strategic partner
HT Media  urn:newsml:reuters.com:*:nFWN1TJ00U
    ** Koovs will buy four 6-million-pound tranches of media
services from the owner of English language daily Hindustan
Times at six monthly intervals over a two-year period
    ** HT Media also runs English language financial daily Mint
and Hindi newspaper Hindustan besides internet and radio
broadcasting businesses
    ** More than 260,000 shares change hands as of 0716 GMT vs
their 30-day moving avg of 124,180 shares
    ** Stock top pct gainer on the Nifty Media index  .NIFTYMED 
    ** Three of 12 brokerages rate the stock "buy" or higher,
five "hold" and four "sell" or lower; their median PT is 95
rupees, according to Thomson Reuters data
    ** Up to Friday's close, stock had fallen 24.6 pct compared
with a 8.2 pct decline in the Nifty Media index
    
    ($1 = 0.7549 pounds)



 ((Reuters Messaging:
abyjose.koilparambil.thomsonreuters.com@reuters.net))