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Business News/ Markets / Stock Markets/  CDGS stock surges over 15% as Board approves special interim dividend of 67
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CDGS stock surges over 15% as Board approves special interim dividend of ₹67

TV Today Network is a small-cap company having a market cap of ₹1,707.12 Cr and the company deals in the consumer discretionary goods & services (CDGS) sector.

On the NSE, the shares of TV Today Network closed today at ₹285.20 apiece level, up by 15.47% from the previous close of ₹247.00. (Bloomberg)Premium
On the NSE, the shares of TV Today Network closed today at 285.20 apiece level, up by 15.47% from the previous close of 247.00. (Bloomberg)

TV Today Network is a small-cap company having a market cap of 1,707.12 Cr and the company deals in the consumer discretionary goods & services (CDGS) sector. The shares of TV Today Network rallied 16.02% on the BSE and 15.47% on the NSE today at closing after the Board declared a special interim dividend of Rs. 67 per share for the financial year 2022-23.

The company said in a stock exchange filing that its Board of Directors has “Declared special interim dividend of Rs. 67/- (Rupees Sixty-Seven only) per Equity Share i.e. at the rate of 1340% on the face value of Rs. 5/- each fully paid-up, for the financial year 2022-23. The Special Interim Dividend shall be paid to the equity shareholders of the Company or in the records of the Depositories as beneficial owners of the shares as on Monday, February 13, 2023, which is the Record Date fixed for the purpose. The payment of Special Interim Dividend/dispatch of dividend warrants would be done within 30 days from the date of declaration of dividend."

TV Today Network also approved re-appointment of Mr. Aroon Purie, Chairman & Whole-time Director w.e.f. April 1, 2023 for a period of 5 years, as well as approved re-appointment of Ms. Kalli Purie Bhandal, Vice-Chairperson & Managing Director w.e.f. April 1, 2023, for a period of 5 years, subject to approval of shareholders of the Company.

TV Today Network Ltd on Friday reported a fall of 55.08 per cent YoY in its consolidated net profit at 27.62 crore in Q3FY23 as compared to 61.50 Cr reported in the year-ago quarter. The company posted revenue from operations of 231.31 crore during the quarter under review, as compared to 257.97 crore in the corresponding quarter of the previous fiscal, representing a fall of 10.33% YoY. 228.93 crore of revenue was generated through television and other media operations, while radio broadcasting brought in 2.38 crore. In Q3 of FY23, TV Today Network's total expenses increased 11.96% to 206.30 crore from 184.25 Cr in Q3FY22. The company’s EPS reached 4.63 in the quarter ended December 2022 as compared to 10.31 recorded in the quarter ended December 2021.

On the NSE, the shares of TV Today Network closed today at 285.20 apiece level, up by 15.47% from the previous close of 247.00. The stock recorded a total volume of 2,218,814 shares. The stock made a 52-week-high of 430.50 on (21-Apr-2022) and a 52-week-low of 224.55 on (23-Dec-2022).

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ABOUT THE AUTHOR
Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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Published: 03 Feb 2023, 06:07 PM IST
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