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Reliance Broadcast Network shares rose by nearly 5 per cent today, to hit the highest trading permissible limit for the day, after the company said its board will consider delisting of equity shares of the company from the stock exchanges in its meeting tomorrow.
The media entertainment firm’s shares climbed 4.97 per cent to Rs 47.55 — its upper circuit limit on the BSE.
At the NSE, the stock soared 4.91 per cent to touch the upper band at Rs 48.05.
“A meeting of the board of directors will be held on September 18, 2013 to consider delisting of equity shares of the company from stock exchanges,” Reliance Broadcast Network Ltd (RBNL) had said in a filing to BSE yesterday.
Shareholding of promoter group companies (Reliance Capital Ltd, Reliance Land Pvt Ltd and Reliance ADA group Trustees Pvt Ltd) in RBNL as on June 2013 was 72.09 per cent.
RBNL’s business interests include radio, television and television production.
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