On 15 November 2022, NDTV’s shares hit an upper circuit of 5 per cent at Rs 383.05. The stock has been in the news after the Adani group did the bidding to acquire the company in an attempt to raise a larger footprint in the Indian media sector. 

To acquire more than 26 per cent stake in NDTV by Adani group’s open offer approval was given by SEBI. On 22 November 2022, the open offer will be revised, and it will close on 5 December 2022.

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Previously, the Adani group acquired a 29.18 per cent stake in NDTV through its subsidiaries through a hostile takeover. With the additional 26 per cent, the total effective stake of the group in NDTV stands at 55.18 per cent. 

In October, the stock zoomed by approximately 18 per cent. However, the stock has delivered a multi-bagger return of 233 per cent as the price has risen from Rs 114 in January 2022.

In the second quarter of FY23, the company’s total revenue reported Rs 105 Crore, up from Rs 91 Crore in the second quarter of FY22. The net profit stood at Rs 12 crores in Q2FY23 compared to Rs 11 Crores in Q2FY22.