Business Companies 05 Jun 2017 NDTV shares shed 7%; ...

NDTV shares shed 7%; hit one-year low on CBI searches

PTI
Published Jun 5, 2017, 2:44 pm IST
Updated Jun 5, 2017, 3:45 pm IST
NDTV shares hit a low post CBI raids at Prannoy Roy's residence
NDTV founder Prannoy Roy.
 NDTV founder Prannoy Roy.

New Delhi: Shares of NDTV today slumped nearly 7 per cent after the CBI searched the residence of its founder Prannoy Roy here and three other locations for allegedly causing losses to a private bank.

The stock tanked 6.74 per cent to Rs 58.10 -- its 52-week low on BSE. At NSE, shares of the company dived 6.88 per cent to hit a one-year low of Rs 58.15.

 

The agency has registered a case against Roy, wife Radhika and RRPR Holdings for allegedly causing losses of Rs 48 crore to ICICI Bank, CBI sources said.

NDTV has termed the exercise a "witch-hunt" based on false accusations. "This morning, the CBI stepped up the concerted harassment of NDTV and its promoters based on the same old endless false accusations," NDTV said in a statement. It said NDTV and its promoters would fight tirelessly against this witch-hunt by multiple agencies.

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