UTV surges on stake sale buzz

DALAL STREET SPIKES

UTV surged 3.61 per cent to Rs 593.75 on the news that it is going to sell minority stake in its broadcast unit to PE firms. The stock opened at Rs 575.50 and swung between a high of Rs 604 and a low of Rs 575.50.

A total of 1,60,376 shares were traded on the BSE. The company is just Rs 15 short of achieving its 52-week high. UTV has surged 17.48 per cent within a week and 27 per cent in one month. It has recently launched its entertainment channel "Bindass".