Reliance Broadcast Network is currently trading at Rs. 60.65, up by 2.75 points or 4.75% from its previous closing of Rs. 57.90 on the BSE.
The scrip opened at Rs. 58.20 and has touched a high and low of Rs. 61.50 and Rs. 56.90 respectively. So far 176425 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 99.25 on 03-Aug-2011 and a 52 week low of Rs. 40.20 on 19-Dec-2011.
Last one week high and low of the scrip stood at Rs. 61.50 and Rs. 54.00 respectively. The current market cap of the company is Rs. 483.46 crore.
The promoters holding in the company stood at 65.25% while Institutions and Non-Institutions held 2.57% and 32.18% respectively.
Reliance Broadcast Network (RBNL) will distribute Bloomberg UTV, India's premier business news channel as part of its distribution portfolio. This move further strengthens the well crafted television strategy of the company, which includes the 3 CBS Channels - BIG CBS Prime, Love and Spark, and the regional channels BIG MAGIC and Spark Punjabi. The channel is scheduled to launch through the JV with Germany's RTL Group, and Reliance Broadcast Network will boast an unmatched 7 channel bouquet.
With this JV, Reliance Broadcast will benefit from having a premier news channel empowered by the global authority in business news - Bloomberg. Besides, Bloomberg UTV will gain through becoming part of a commanding bouquet of channels backed with an excellent brand lineage. This consolidation establishes a bouquet to be reckoned with and one that will meet requirements of both audiences and marketers alike.
RBNL is a multi-media entertainment conglomerate with play across radio, television, intellectual properties and out of home. It is part of the Reliance Group and specializes in creating and executing integrated media solutions for brands.
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