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Business News/ Markets / Stock Markets/  Entertainment stock Balaji Telefilms hits 52-week high. Rises 17% despite weak stock market
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Entertainment stock Balaji Telefilms hits 52-week high. Rises 17% despite weak stock market

Stock market today: Balaji Telefilms share price today opened upside and went on to touch an intraday high of ₹129.45 apiece on Thursday

Stock market today: Entertainment stock witnessed strong buying interest on Thursday as the company board is going to consider and approve the fundraising proposal in its meeting scheduled on 9th February 2024. (Photo: Pixabay)Premium
Stock market today: Entertainment stock witnessed strong buying interest on Thursday as the company board is going to consider and approve the fundraising proposal in its meeting scheduled on 9th February 2024. (Photo: Pixabay)

Stock market today: Balaji Telefilms shares witnessed sharp upside movement on Thursday despite weak stock market sentiments. Balaji Telefilms share price today opened upside at 120 apiece on NSE and went on to touch an intraday high of 129.45 per share, which turned out its new 52-week high during Thursday deals. While climbing to this new 52-week high, the entertainment stock logged an intraday rise of around 17 percent against its Wednesday close of 110.50 per share.

Also Read: Why stock market is down today after RBI's announcement to keep interest rate unchanged?

Incidentally, the entertainment stock witnesses buying interest ahead of its board of directors meeting scheduled on 9th February 2024. The entertainment company has informed Indian stock market exchanges about the board meeting, which aims to consider and approve fundraising.

Balaji Telefilms news

In one of its exchange filings, Balaji Telefilms said, "In furtherance of our letter dated February 02, 2024 with respect to intimation of the date of the Board Meeting and pursuant to Regulation 29(1)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of Balaji Telefilms Limited (“the Company™), at their meeting scheduled to be held on Friday, February 09, 2024, shall in addition to the earlier intimated agenda item i.e. to consider and approve the Unaudited Financial Results of the Company for the quarter and period ended December 31,2023, along with the Limited Review Report of the Auditors thereon, inter-alia consider and finalize proposal for raising of funds, by way of issue of specified securities in one or more tranches through Preferential Issue, Private Placement, Rights Issue or such other permissible method as may be decided by the Board, or any combination thereof, and to approve ancillary actions for the above-mentioned fund raising, subject to such statutory/regulatory approvals as may be necessary, including the approval of the Shareholders of the Company."

Balaji Telefilms share price history

In the last one year, Balaji Telefilms shares have delivered stellar returns to its shareholders. At this time, the entertainment stock has risen from 40.30 to 129.45 apiece, logging to the tune of 225 percent in this time. So, it is one of the multibagger stocks that Dalal Street has produced in the last one year. In the last six months, Balaji Telefilms share price has given 150 percent return whereas, in the last one month, it has delivered over 40 percent return to its positional shareholders.

Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 08 Feb 2024, 03:22 PM IST
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