Quint Digital Media hit an upper circuit limit of 10% at Rs 638.05, extending gains for the third trading session.
Shares of Quint Digital Media have surged 58.38% in three sessions. The recent gains were backed by the company divesting minority stake in its digital business news platform to Adani Media Ventures.
Quint Digital Media has, via its wholly owned subsidiary, on 1 March 2022 entered into a binding term sheet with the Adani Group.
Adani Group will acquire a minority stake in Quintillion Business Media (“QBM”), an indirect subsidiary of Quint Digital.
The proposed transaction with the Adani Group is only for QBM which is a digital business news platform and not in relation to other digital media/media tech properties owned by Quint Digital viz. The Quint, Quintype Technologies, thenewsminute and Youthkiawaaz.
QBM is a business and financial news company and operates a leading business news digital platform in India. QBM’s main content is based on the Indian economy, international finance, corporate law & governance and business news, amongst others through its platform Bloomberg
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor