NDTV, Sun TV, TV Today: Media-related stocks to see more upside going ahead

Shares of NDTV have rallied four-fold since December 2021, staging one of its biggest rally since 2007-08. On the upside, the stock can surge to Rs 450.

Shares of New Delhi Television Limited (NDTV) were locked in the 5 per cent upper circuit on Wednesday, after the Adani Group announced an indirect acquistion of a 29.18 per cent stake in the news media company. This is to be followed by an open offer to acquire additional 26 per cent stake at Rs 294 per share.  

A group company of the conglomerate, AMG Media Network has bought Vishvapradhan Commercial, which held 99.9 per cent warrants of RRPR Holding (RRPRH), the promoter of NDTV. As per an exchange filing, Vishvapradhan Commercial has converted these warrants into equity, enabling Adani's