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Ratan Tata, Chairman Emeritus of Tata Sons and Chairman of Tata Trusts, has, in his personal capacity, acquired a stake in Pritish Nandy Communications Ltd through market purchases last week, the company said on Monday..
Media and entertainment company Pritish Nandy Communications was founded by Pritish Nandy, a poet and journalist, over 18 years ago. The company went public in 2000.
Tata is known for investing regularly in start-ups and technology companies. Tata has investments in companies like Ola, Ola Electric, Cure.fit, FirstCry, Urban Company and Tork Motors.
The shares of Pritish Nandy Communications were up nearly 10 per cent on Monday after it announced the acquisition by Tata.
The scrip hit an intra-day high of ₹23.50 on the BSE, up ₹2.10 or 9.81 per cent. It opened at ₹21.75 as against the previous close of ₹21.40. The company’s stocks were locked in their 10 per cent upper circuit limit on the NSE at ₹23.55, up ₹2.10 or 9.79 per cent.
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