New Delhi Television rose 6.68% to Rs 91.80 at 14:15 IST on BSE after the company said it forayed into the online wedding market space with a new e-commerce venture.
The announcement was made during trading hours today, 4 December 2015.
Meanwhile, the BSE Sensex was down 169.96 points, or 0.66%, to 25,716.66.
On BSE, so far 2.36 lakh shares were traded in the counter, compared with an average volume of 63,660 shares in the past one quarter.
The stock hit a high of Rs 94.30 and a low of Rs 85.35 so far during the day. The stock hit a 52-week high of Rs 149.60 on 17 April 2015. The stock hit a 52-week low of Rs 77.30 on 25 August 2015.
The stock had underperformed the market over the past one month till 3 December 2015, falling 9.71% compared with 2.65% decline in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 5.70% as against Sensex's 0.47% rise.
The small-cap company has an equity capital of Rs 25.79 crore. Face value per share is Rs 4.
New Delhi Television (NDTV) said its forthcoming wedding and festival platform, Special Occasion, has raised funding at a valuation of $20 million from US-based venture capital firm, CerraCap Ventures.
Saurabh Sun, Managing Partner CerraCap Ventures said that the wedding industry in India is a $40 billion market which is highly disorganized and has operated the same way for decades. With India's growing tech savvy populous; this market is ripe for disruption.
Smeeta Chakrabarti President Revenue NDTV Group said that the wedding business in India is growing at huge 20% year on year. There are 10 million weddings every year in India and this is a massive opportunity. Not just weddings, festival spending is also huge and this platform will be the go to destination when someone is getting married or attending a wedding or celebrating any special occasion.
With this launch, NDTV establishes itself more firmly in the digital and ecommerce space, the company said in a statement.
On consolidated basis, NDTV reported a net loss of Rs 17.19 crore in Q2 September 2015, compared with net loss of Rs 26.89 crore in Q2 September 2014. Net sales rose 16.7% to Rs 127.35 crore in Q2 September 2015 over Q2 September 2014.
NDTV is one of the leading news broadcasters in India.
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