The stocks of UTV Software Communications and Radaan Mediaworks have registered a sharp surge. UTV Software observed a trading volume of 67,390 shares against its two-week average volumes of 27,343 shares, while Radaan experienced 44,361 shares changing hands against a two-week average volume of 35,319 shares.
According to a UTV official, “It’s purely media speculation and we don’t comment on such speculation.”
The main reason for the consolidation of the two companies was to produce films in South Indian languages.
Radaan Mediaworks planned to produce all south Indian language films jointly with UTV.
Currently, under the tie-up, both the media houses (UTV and Radaan) were jointly producing a Tamil film. |
