TV18 Broadcast plunges 3% after board approves rights issue

TV18 Broadcast plunged on Monday after Capital Issues Committee of the board of directors of the company approved rights issue at Rs 20 per share in the ratio of 41 shares for every 11 shares held. The company is looking to raise Rs 26.99 billion.Shares ofthe companyare trading at Rs 20.70, down Rs 0.80, or 3.72% at the Bombay Stock Exchange (BSE) on Monday at 10:38 a.m.The scrip has touched an intra-day high of Rs 22.50 and low of Rs 21. The total volume of shares traded at the BSE is 148,076.In the earlier session, the shares fell 0%, or Rs 0, at Rs 21.95. Currently, the stock is trading down 58.49% from its 52-week high of Rs 51.80 and above 22.86% over the 52-week low of Rs 17.50.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 21.70 (0.20) (0.92) 1 Month 21.05 0.45 2.14 3 Months 17.85 3.65 20.45 6 Months 28.45 (6.95) (24.43) 1 Year 40.60 (19.10) (47.04) Note: Based on previous day closing price.