Rajesh Exports, TV Today Network hit lifetime high

TV Today Network was up 4% at Rs 340, while Rajesh Exports up 1% at Rs 732 on the BSE at 01:38 PM.

Shares of Rajesh Exports and TV Today Network have touched their respective lifetime highs on the BSE in intra-day trade today.

TV Today Network has surged 7% to Rs 351, extending its previous day’s 13% rally on the BSE. The trading volumes on the counter nearly doubled with a combined 670,418 shares changed hands on the BSE and NSE till 13:23 AM.

The company engaged in news broadcasting operations had reported a strong 40% year on year (YoY) jump in standalone net profit at Rs 36.90 crore for the quarter ended December 31, 2015 (Q3FY16) on back of strong operational performance.

Since December 3, 2015, the stock outperformed the market by gaining 28% from Rs 275 after the Reserve Bank of India (RBI) notified that foreign investors to invest up to 26% in the company. The S&P BSE Sensex dipped 9% during the same period.

Rajesh Exports too touched a record high of Rs 746 on BSE in intra-day trade. In past one-week, the stock gained 7% against 2.7% rise in the benchmark index after the company reported 77% YoY growth in consolidated net profit at Rs 303 crore for Q3FY16.

At 01:38 PM, TV Today Network was up 4% at Rs 340, while Rajesh Exports up 1% at Rs 732 on the BSE. The S&P BSE Sensex up 0.69% or 162 points at 23,544.