As per the bulk deal data on the NSE, Marcellus Investment Managers sold 31,29,319 equity shares, or 0.91% equity, at Rs 23.14 per share of Music Broadcast on Friday, 21 May 2021.
Saurabh Mukherjea is the founder and chief investment officer of Marcellus Investment Managers.
On a standalone basis, Music Broadcast reported a net loss of Rs 3.87 crore in Q4 March 2021 lower than net loss of Rs 8.91 crore in Q4 March 2020. Net sales declined 7.4% to Rs 42.48 crore in Q4 FY21 over Q4 FY20.
Music Broadcast (MBL), a subsidiary of Jagran Prakashan, is the first private FM radio broadcaster in India. It operates under the brand name Radio City. The company currently has 39 FM radio stations across 12 states.
Shares of Music Broadcast lost 0.64% to Rs 23.25 on BSE. The scrip hovered in the range of Rs Rs 23.25 to Rs 23.70 so far.
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