The interest of the country’s richest billionaire Gautam Adani is increasing in the media industry. Under this, he has bought a 49 percent stake in digital business news platform Quintillion. Earlier in March also, Adani had bought a minor stake. Now after the new bet of Adani, the stock of Quint Digital Media Ltd is seeing tremendous growth.
Price crossed Rs 400: The share price of Quint Digital Media Limited was below Rs 300 on the BSE index on May 13. At the same time, on May 19, the share price of the company is more than Rs 435. During this period, the company’s stock has hit upper circuit several times.
Let us tell you that in the month of March, the stock went up to a price of Rs 638.05. From this perspective, the recovery phase is going on right now. Talking about the market capital, it is Rs 955 crore.
Adani Group’s media arm AMG Media Networks has acquired 49 per cent stake in Quintillion Business Media Pvt Ltd. The deal for this acquisition was done on May 13. Since then, the company’s share price has been rising like a rocket.
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Earlier in March 2022, the Adani Group had announced that it would acquire a small stake in the company.