R K Damani buy stake in TV Today Network

Recently, Derive Investments bought 1.3 million shares of TV Today Network at Rs. 196 on BSE.

The Network has surged over 9 percent to Rs. 218, extending its previous day’s 4 percent margin on BSE, after Derive Investments, an investment company run by Radhakishan Damani bought a stake in the company in a block deal on Monday.

On November 24, 2014 Derive Investments bought 1.3 million shares representing 2.18% stake of TV Today Network at Rs 196 on the BSE, the bulk deal data shows.

However, Reliance Capital Ltd had sold part or 1.51 million shares of TV Today Network at Rs 196.07 on BSE.

As of September 30, 2014, Reliance Capital held 2.77 million or 4.64% stake in the company, shareholding pattern data shows.

The stock opened at Rs 220 and touched a high of Rs 221 on BSE. A combined 900,717 shares changed hands on the counter till 0930 hours on BSE and NSE.