India's TV18 Broadcast surges 14% as March qtr profit nearly triples

TV18 Broadcast

23/04/2020 09:50

** Shares of the TV broadcasting co  TVEB.NS  rise as much
as 14.4% to 23.5 rupees
    ** Co reports near three-fold rise in its March qtr profit
on Thursday; says no significant impact from COVID-19 on
financial results  urn:newsml:reuters.com:*:nFWN2CB0CH
    ** Reliance Industries Ltd  RELI.NS  said in Feb it would
merge its media and distribution businesses into its TV
business, Network18 Media & Investments Ltd  NEFI.NS 
 urn:newsml:reuters.com:*:nL4N2AH3AY
    ** About 19.2 mln shares change hands in afternoon trade,
nearly 6x 30-day avg of 3.3 mln shares
    ** TVEB shares had fallen 2.8% YTD, as of last close

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 8061822737); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))