India's TV18 Broadcast rises on block deals

TV18 Broadcast

06/12/2023 09:43

** Shares of TV18 Broadcast  TVEB.NS  are up 6.7% at 55.70
rupees, their highest level since May 2022
    ** More than 8.8 mln shares changed hands in 12 block deals
in the range of 53.8 rupees and 56.3 rupees per share - LSEG
data
    ** Nifty Media index  .NIFTYMED  is also up 2% 
    ** TVEB on track for sixth straight session of gains, its
longest winning run since Jan., 2022  
    ** Stock has risen nearly 30% in Dec., largely due to block
deals; it had risen roughly 4% in Nov.
    ** Recent rally takes TVEB up ~51% YTD vs a ~19% rise in
Nifty Media index

 (Reporitng by Nishit Navin)
 ((nishit.navin@thomsonreuters.com;))