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TV Today Network falls 13% after board nod for sale of radio business

The stock had outperformed the market by surging 17% during last week as compared to 0.39% decline in the S&P BSE Sensex.

TV Today Network
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SI Reporter Mumbai
TV Today Network (TVTNL) has dipped 13% to Rs 460 on the BSE in noon deal trade after the company said its board granted in principle approval for sale of radio business of the company to Entertainment Network India (ENIL) as a going concern, by way of a slump sale.

TVTNL has three radio stations in New Delhi, Mumbai and Kolkata under the brand name ISHQ 104.8FM and frequency 104.8FM.

The company said the board has decided not to go ahead with the transfer of the radio business of the company, comprising of three radio stations to Vibgyor

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