Mid-Day stock soars and Deccan firms plans to align subsidiaries

By 21 Apr 2010

Mid-Day Multimedia stock soared from 10.75% to Rs 36.05. According to reports, the firm is in discussion with Jagran Prakashan for a strategic alliance.

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Last week, the Mid-Day stock had hit a 52 week low of Rs 12.16 and a high of Rs 37.20, which is also a 52-week high.

The small-cap newspaper publisher has an equity capital of Rs 52.84 crore with a per share face value of Rs 10.

Mid-Day Multimedia publishes the Mumbai-based tabloids Mid-day, Morning Quick and Urdu language daily Inquilab. Sportsweek, a weekly on sports updates, also belongs to the Mid-Day stable.

Meanwhile the Hyderabad-based Deccan Chronicle Holdings Ltd (DCHL) has received the green flag from the Andhra Pradesh High Court for the scheme of amalgamation of its wholly owned subsidiaries with itself.

The scheme would include the merger of Asianage Holdings, Deccan Chronicle Bangalore and Sieger Solutions with the company DCHL is primarily in the business of printing and publishing newspapers and periodicals in India.

 


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