Balaji Telefilms hits 9-year high on fund raising plans; zooms 128% in 2017

The stock was up 5% to Rs 194, extending its past four days 16% rally on BSE.

Balaji Telefilms was up 5% to Rs 194, extending its four-session long rally of 16% on the BSE after the company on Monday announced its fund raising plans.

“A meeting of the board of directors of the Company will be held on July 20, 2017, to consider various fund raising options including raising funds through issue of securities on preferential basis,” Balaji Telefilms said in a regulatory filing.

Recently, the Company had launched ALTBalaji, a multi-device Subscription Video On Demand platform that offers original, premium and exclusive content for a global digital audience. ALTBalaji has over 3 million downloads and subscribers from over 75 countries.

The stock is trading at its highest level since August 13, 2008. Thus far in the current calendar year 2017, the stock zoom 128% from Rs 84.55 on BSE, as compared to 20% rise in the S&P BSE Sensex.