Raj Television Network has galloped 11% to Rs 113.35, extending its previous day’s 8% rally, after the company has entered an agreement with Tamil Nadu Government Cable Network- Arasu Cable.
“Raj Television Network ensured 100% connectivity in the distribution segment throughout Tamil Nadu State and expects additional subscription revenue from the pay channel segment out of this deal,” one of the largest regional television broadcasters in India said in a filing to the stock exchanges.
The stock is currently trading at its highest level since September 2008. As many as a combined 505,000 shares have changed hands on the counter so far, against an average sub 200,000 shares that were traded daily in past ten trading days on the NSE and BSE.