Hinduja Group increases stake in HVL to 27.42%-Television Post
Hinduja Group has acquired 85,000 shares or 0.41% stake in its group company Hinduja Ventures Ltd (HVL), which, among others, houses the media and entertainment business of the group. The transaction was through open market on 22 March. The shares of HVL had closed at Rs 655.3 a share. As a result of the acquisition, the company’s holding in HVL has gone up marginally to 27.42%. HVL also disclosed that Ashok and Harsha Hinduja have disposed of 85,000 shares or 0.41% stake in HVL to Hinduja Group. As a result, their holding in the company has fallen to 2.3%. HVL operates across three segments: media and communication, real estate, and investment/treasury. HVL is the holding company of IndusInd Media & Communications Limited (IMCL), which houses the company’s cable TV and headend in the sky (HITS) business. Apart from TV distribution, HVL also owns and operates cable movie channels. It also runs broadband business under Planet E Holdings. The company is headed by Ashok Mansuk...