Entertainment Network (India) rose 4.79% to Rs 688 at 11:37 IST on BSE after the company said it won new licences in the electronic auctions for private FM radio.
The announcement was made after market hours on Wednesday, 16 September 2015.
Meanwhile, the BSE Sensex was up 457.73 points, or 1.76%, to 26,421.70.
On BSE, so far 2,950 shares were traded in the counter, compared with an average volume of 8,244 shares in the past one quarter.
The stock hit a high of Rs 720 and a low of Rs 684 so far during the day. The stock hit a record high of Rs 849 on 22 July 2015. The stock hit a 52-week low of Rs 396.85 on 26 September 2014.
The stock had outperformed the market over the past one month till 16 September 2015, rising 0.66% compared with 7.49% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 6.87% as against Sensex's 2.71% decline.
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The mid-cap company has an equity capital of Rs 47.67 crore. Face value per share is Rs 10.
Entertainment Network (India) (ENIL) said its radio channel Radio Mirchi has expanded its footprint into seven new cities -- Chandigarh, Kochi, Kozhikode, Jammu, Srinagar, Guwahati and Shillong -- by participating in the auction of the first batch of FM Phase III Radio channels.
Besides, the company said it has received permission from the Ministry of Information and Broadcasting to acquire four stations - Amritsar, Patiala, Shimla and Jodhpur - from TV Today Network, which will be re-branded as Mirchi shortly, ENIL said in a filing.
With these 11 stations, the core Mirchi brand will now be available in 43 cities from 32 earlier, the company said.
The company said it has won second frequency in Bangalore, Hyderabad, Ahmedabad, Pune, Kanpur, Lucknow, Jaipur, Nagpur and Surat.
In addition, the company hopes to get Ministry of Information & Broadcasting's approval for TV Today's three metros in Delhi, Mumbai and Kolkata, it added.
On a consolidated basis, net profit of Entertainment Network (India) rose 6.28% to Rs 25.88 crore on 7.36% rise in net sales to Rs 98.55 crore in Q1 June 2015 over Q1 June 2014.
Entertainment Network India (ENIL), a subsidiary of Times Infotainment Media (TIML), the holding company promoted by Bennett, Coleman & Company (BCCL)- the flagship company of the Times of India Group, was incorporated in 1999. ENIL operates in the radio broadcasting segment, out-of-home media segment and experiential marketing segment.
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