New Delhi Television hit an upper circuit limit of 10% to Rs 39.25 at 11:09 IST on BSE after NDTV Convergence announced Rs 300 crore deal with Taboola.
The announcement was made before trading hours today, 21 December 2018.
Meanwhile, the S&P BSE Sensex was down 375.90 points, or 1.03% to 36,055.77.
On the BSE, 13,000 shares were traded in the counter so far compared with average daily volumes of 3,918 shares in the past two weeks. The stock had hit a low of Rs 39 in early trade. The stock hit a 52-week high of Rs 56.55 on 2 July 2018. The stock hit a 52-week low of Rs 30 on 7 June 2018.
NDTV Convergence has struck a five-year deal with Taboola, the world’s largest content discovery platform. The deal ties NDTV Convergence exclusively to Taboola and involves a minimum guarantee of more than Rs 300 crore for NDTV Convergence.
Taboola uses its presence on sites like NDTV to recommend content from across the internet to the audience and to offer highly-personalized native advertising.
NDTV Convergence is the digital arm of NDTV group. It owns and operates the flagship portal www.ndtv.com and all other digital properties of the NDTV Group including the NDTV App.
Taboola is the leading discovery platform, serving over 450 billion recommendations of articles, blogs, videos, products and apps to over one billion unique users every month on thousands of premium sites and mobile carriers.
On a consolidated basis, New Delhi Television (NDTV) reported net profit of Rs 0.59 crore in Q2 September 2018 as against net loss of Rs 23.14 crore in Q2 September 2017. Net sales declined 8.42% to Rs 93.48 crore in Q2 September 2018 over Q2 September 2017.