TN Electricity Minister denies commercial ties with Adani conglomerate
This is the first reaction of the DMK government following the indictment of the Adani conglomerate in a US court.
Media company NDTV’s shares are flying on the bourses amid speculation that the entity may be the target of Adani Group that is looking to enter the media business through acquisition.
The company shares on BSE flew in the morning hours of trade to hit the 10 per cent circuit levels. On BSE the stick traded at Rs 79.65, up 9.94 per cent as of 1.07 p.m.
Reports have suggested that Adani Group is looking at Delhi based media companies for its foray and NDTV may be a potential candidate. However, the interest could not be verified by IANS.
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On its part, Adani Group is already progressing on its media interests with the appointment of veteran journalist Sanjay Pugalia as the CEO and editor-in-chief.
Though NDTV’s financials had been moving up and down, it’s stock has performed exceedingly well rising well over 100 per cent in last one year. The company has also been subject of tax investigations.
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