NDTV denies reports that SpiceJet's Ajay Singh set to take over

The stock of NDTV Ltd rose as much as 4.94% to the day’s high of Rs 53.1 on BSE

As of June 2017, the promoter holding in the channel stood at 61.45% while the public shareholding in the company stands at 38.55%.

The CBI conducted searches in Roy's residence on June 5, where NDTV stood up for their owners and called the raids a "blatant attack on the freedom of the press", in a statement.

NDTV the oldest news channel set to acquire by the SpiceJet's Ajay Singh who coined Abki Baar Modi Sarkar tagline.

This came even after The Hindu reported that a NDTV source had denied the reports of its sale to Singh. This was in response to a clarification sought by the Bombay Stock Exchange on Friday relating to a report that quoted The Indian Express report that "SpiceJet's Ajay Singh set to take control of NDTV".

Earlier, it was reported by The Indian Express, that New Delhi Television Limited (NDTV), which was founded by Prannoy Roy and Radhika Roy in 1988, will sell its majority share to Ajay Singh.

Sources have confirmed with the leading daily that Ajay Singh, co-founder and owner of SpiceJet who was part of the BJP's 2014 poll campaign, has picked up majority holding in the news channel.

Spain expels North Korea ambassador amid growing nuclear threat
Since early spring, United States officials have been threatening military action against North Korea multiple times a week. Since Moon came into office, Pyongyang has also staged 10 missile tests.

Last year, Singh was also elected as president of Boxing Federation of India.

According to a source quoted in The Indian Express, the SpiceJet owner will have a stake of around 40%, nearly double that of founders Prannoy Roy and Radhika Roy, who have an about 20% share now.

It has, however, turned the spotlight firmly back on Ajay Singh, just a few months after he made headlines when Bloomberg crowned the once-ailing SpiceJet the top performing aviation stock in the world.

In May 2015, SpiceJet posted its first net profit - of Rs 22.51 crore - in eight quarters.

Singh has been a vital part of BJP's 2014 Lok sabha election campaign.

In 1996, he was asked to serve on the Board of Delhi Transport Corporation and prepare a plan to revamp DTC. At one point, SpiceJet had employed some 140 employees per aircraft as compared to about 100 for IndiGo.

Related News:

  • Parineeti, Varun support Mahira Khan over trolling

    Parineeti, Varun support Mahira Khan over trolling

    There are speculations that Ranbir Kapoor is dating Pakistani actress Mahira Khan and was spotted together on the streets of NY . Angry with both her appearance and behaviour, many have tweeted negative comments on platforms such as Instagram and Twitter.
    Excitement bubbles up at BYU as caffeinated soda now on sale

    Excitement bubbles up at BYU as caffeinated soda now on sale

    It's a new day at Brigham Young University, the Mormon college in Utah: a ban on caffeinated soft drinks has been lifted. It's not clear how the business will be impacted by the dining service change.
    Kylie Jenner 'tells friends she's pregnant' according to U.S.  reports

    Kylie Jenner 'tells friends she's pregnant' according to U.S. reports

    Jenner discussed her high-profile breakup with Tyga on a recent episode of her E! reality series "Life of Kylie ". Then on Life Of Kylie back in July she claimed was ready to get out of the spotlight and have a more normal life.
  • SC to take final decision on Rohingyas: Rajnath

    SC to take final decision on Rohingyas: Rajnath

    The NHRC recently issued a notice to the Centre over its plan to deport Rohingyas, who are residing in various parts of India. And many experts question where India could send the Rohingya even if the deportations get Supreme Court backing.
    Motorola Moto X4 Android One Edition launched in U.S.  for $399

    Motorola Moto X4 Android One Edition launched in U.S. for $399

    Motorola has offered some brilliant build quality on this new smartphone, which now comes with IP68 water and dust resistance. The Android One Moto X4 is an appealing device and tying it up with Project Fi is bound to help Project Fi gain more users.
    Taylor Swift Bonds With A Rat In Her Latest Behind-The-Scenes Video

    Taylor Swift Bonds With A Rat In Her Latest Behind-The-Scenes Video

    The music video which released in the last week of August has garnered over 415 million views on YouTube already. That's gotta look weird. "We're all, like, creating this pile of people who are trying to get to the top".
  • CVS Pharmacy announces limits on opiod prescriptions CVS limits opioid prescriptions

    CVS Pharmacy announces limits on opiod prescriptions CVS limits opioid prescriptions

    According to a release on the CVS Health website, opioid overdose deaths quadrupled from 1999 to 2015. CVS fills medications for over 90 million consumers at 9,700 locations.
    Chelsea agree Costa sale to Atletico Madrid

    Chelsea agree Costa sale to Atletico Madrid

    Diego Costa: Where did all go wrong at Chelsea? But Conte expects Luiz to play at Atletico in the Champions League next Wednesday. Atletico, though, will only be able to register Costa when their current transfer ban expires in January.

    S. Korea approves $8m in aid to N

    The decision to resume aid is not popular in the South and President Moon Jae-in's approval rating has taken a hit. South Korea offered humanitarian assistance to the North even under conservative administrations.
  • United States stock indexes inch lower following Fed announcement

    In fact the Fed's policymakers do now not expect core inflation to hit the 2% target until 2019, compared with 2018 previously. According to the CME Group's FedWatch tool, investors now see a 56 percent chance of a rate increase by the end of December.
    Trump Approval Rises in Another New Poll

    Trump Approval Rises in Another New Poll

    A total of 43 percent of USA voters approve Donald Trump's job, a three point increase since August. Fifty-two percent of GOP voters disapproved of the proposal, while 33% supported it.

    Yadav hat-trick clinches second Indian win over Aussies

    Yuzvendra Chahal had trouble with gripping the ball at the start, but that inadvertently earned him a wicket. Australia were nine down, but Stoinis believed his six-hitting techniques could still run India close.


Most liked

Pakistan has uprooted all militant sanctuaries in the region: PM Abbasi
She said government should extend support to her for promotion of education in the rural areas particularly in Swat. Abbasi said that Pakistan does not see any political or military role of India in Afghanistan.

Xbox One Compatibility Program will Receive Long Awaited Game Franchise
The game is even missing from the list of "Enhanced Titles" on the official website even though it was updated only yesterday. How do 4K and HDR fit in with Xbox One X Enhanced? Xbox One X Enhanced is about the support for the console .

South Korean, Japanese, US militaries to mount pressure on Pyongyang
On the contrary, Moon Jae-in promised a more accommodating stance on Pyongyang before being elected president in May 2017. Meanwhile the U.S. and Chinese leaders have committed to "maximising pressure on North Korea", the White House has said.