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12-Sep2018

Diligent Media Corporation surges on selling non-core assets

Diligent Media Corporation is currently trading at Rs. 6.94, up by 0.25 points or 3.74% from its previous closing of Rs. 6.69 on the BSE.

The scrip opened at Rs. 6.94 and has touched a high and low of Rs. 6.94 and Rs. 6.94 respectively. So far 1 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 14.40 on 01-Jan-2018 and a 52 week low of Rs. 5.76 on 29-Aug-2018.

Last one week high and low of the scrip stood at Rs. 7.14 and Rs. 6.31 respectively. The current market cap of the company is Rs. 81.69 crore.

The promoters holding in the company stood at 69.10%, while Institutions and Non-Institutions held 5.59% and 25.31% respectively.

Diligent Media Corporation has executed an Agreement to Assign, for sale/ assignment of company's non-core assets comprising of leasehold land admeasuring approximately 13,803 square meters adjacent to the company's Printing press at TTC Industrial Area, MIDC, Mahape, Navi Mumbai, Maharashtra, along with building and fixtures thereon and rights attached thereto to Pioneer eLabs or any other entity owned or controlled (with majority beneficial interest) by P. Sridhar Reddy at a consideration of Rs 54.44 crore on September 11, 2018.

The above sale / assignment shall be subject to the approval of the Shareholders of the company at the ensuing Annual General Meeting scheduled on September 21, 2018 and shall require further approval of or no-objection from the lessor viz. Maharashtra Industrial Development Corporation (MIDC).

Diligent Media Corporation publishes daily news, views, and analyses. It provides information in the areas of money, sport, entertainment, opinion, speak up, health, lifestyle, science/technology, and academy in India and internationally.


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