The Hindu Business Line : UTV Software, Radaan surge

The stocks of UTV Software Communications and Radaan Mediaworks jumped sharply on Tuesday. While the former went up by 5.39 per cent to Rs 488.10, Radaan Media surged 4.86 per cent to Rs 7.12.

Market speculation has it that the former is likely to pick up stake in the latter. UTV Software witnessed a trading volume of 67,390 shares against its two-week average volumes of 27,343 shares , while Radaan saw 44,361 shares changing hands against two-week average volume of 35,319 shares..

A UTV official said: “It’s purely media speculation and we don’t comment on such speculation.”

However, market players think that a strategic investment stake is a logical follow-up of an existing business arrangement. The two companies recently entered into a deal to produce films in South Indian languages.

While Radaan will produce all South Indian language films jointly with UTV, adaptation of any such South Indian movies in Hindi would be produced by UTV jointly.

Under the tie-up, UTV and Radaan are currently producing a Tamil film called Kannamoochi Yenada, starring Sathyaraj, Radhika, Prithviraj and Sandhya.

The audio tracks of the film were released by Viveik Oberoi recently in Chennai.

K.S. Badri Narayanan

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