Balaji Telefilms Surged 17%, Hits 52W-High; Here's Why

Balaji Telefilms shares surged 17% on Thursday despite weak stock market sentiments. The 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.

Also, the stock witnesses buying interest ahead of its board of directors meeting scheduled on 9th February 2024.

In the last one year, the stock of Balaji telefilms given 225 percent return to its investors and has risen from Rs. 40.30 to ₹129.45 apiece. 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.

Recently in an exchange filing, Balaji Telefilms said, that their board meeting is scheduled to be held on Friday, February 09, 2024, 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 is an Indian company that produces Indian soap operas, reality TV, comedy, game shows, entertainment, and factual programming in several Indian languages. Balaji Telefilms is promoted by Ekta Kapoor and Shobha Kapoor and is a public company listed at BSE and NSE.