Koovs Plc has signed 2-year ad-for-equity pact (means advertising space instead of cash for the equity stock) with HT Media. The contract is worth 24 million pound.

HT Media will get 30% in cash and rest in equity for ad-for-equity deal. Koovs will buy four 6-million-pound tranches of media services from the owner of English language daily Hindustan Times at 6 monthly intervals over a two-year period.

Read EquityPandit’s Technical Analysis of Indian Stock Market