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Jagran Prakashan shines on receiving approval to acquire Music Broadcast

17 Dec 2014 Evaluate

Jagran Prakashan is currently trading at Rs. 148.20, up by 8.20 points or 5.86% from its previous closing of Rs. 140.00 on the BSE.

The scrip opened at Rs. 143.25 and has touched a high and low of Rs. 153.15 and Rs. 143.25 respectively. So far 35,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 153.15 on 17-Dec-2014 and a 52 week low of Rs. 82.30 on 17-Dec-2013.

Last one week high and low of the scrip stood at Rs. 13.15 and Rs. 139.00 respectively. The current market cap of the company is Rs. 4,880.00 crore.

The promoters holding in the company stood at 62.59% while Institutions and Non-Institutions held 25.95% and 11.45% respectively.

Jagran Prakashan (JPL) has received an approval for entry into the radio industry via acquisition of Music Broadcast (MBPL). The board of directors at their meeting held on December 16, 2014 has approved for the same. The acquisition is subject to regulatory approvals, including from Ministry of Information and Broadcasting, and execution of binding agreements. As part of the acquisition the company is acquiring MBPL’s holding company and fellow subsidiary that provides activations.

Music Broadcast (MBPL) runs India’s leading radio network under the name ‘Radio City’ and is present in 20 stations across 7 states. The network has a strong national presence, with a presence in the top 14 out of 16 advertisement revenue generating markets with a focus on SEC AB audiences.

MBPL’s FY14 revenues were Rs 161.8 crore and the H1-FY15 (unaudited) revenues exhibit healthy growth of 28% in ad revenues. MPBL’s current operating margins are approximately 28%.

Jagran Prakashan Share Price

67.00 -0.33 (-0.49%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
D.B. Corp 214.40
Navneet Education 157.80
Jagran Prakashan 67.00
HT Media 23.96
Hindustan Media Vent 68.84
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