"There is scope to substantially increase FII investment in
the two companies," says a fund manager in a leading broking
NDTV had a total volume of 5.16 lakh transactions on the BSE, way
above its normal trading day. TV Today saw 4.80 lakh shares being
traded. Compare this with TV Eighteeen's volume figure of 22,491
shares being traded and the scrip rising 3.04 per cent to close
at Rs 226.95.
"TV18 already has a foreign holding of 25 per cent. There
is very little scope of foreign investors playing in that scrip,"
says an analyst. CNBC-TV18, a business channel, is a joint venture
between TV18 and CNBC.
"Domestic institutions showed active interest in NDTV and
TV Today in anticipation of FIIs stepping in to buy these stocks,"
adds the analyst.