Entertainment stock Balaji Telefilms hits 52-week high. Rises 17% despite weak stock market

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Incidentally, the entertainment stock witnesses buying interest ahead of its board of directors meeting scheduled on 9th February 2024. The entertainment company has informed Indian stock market exchanges about the board meeting, which aims to consider and approve fundraising.

Balaji Telefilms news

In one of its exchange filings, Balaji Telefilms said, “In furtherance of our letter dated February 02, 2024 with respect to intimation of the date of the Board Meeting and pursuant to Regulation 29(1)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of Balaji Telefilms Limited (“the Company™), at their meeting scheduled to be held on Friday, February 09, 2024, shall in addition to the earlier intimated agenda item i.e. to consider and approve the Unaudited Financial Results of the Company for the quarter and period ended December 31,2023, along with the Limited Review Report of the Auditors thereon, inter-alia consider and finalize proposal for raising of funds, by way of issue of specified securities in one or more tranches through Preferential Issue, Private Placement, Rights Issue or such other permissible method as may be decided by the Board, or any combination thereof, and to approve ancillary actions for the above-mentioned fund raising, subject to such statutory/regulatory approvals as may be necessary, including the approval of the Shareholders of the Company.”

Balaji Telefilms share price history

In the last one year, Balaji Telefilms shares have delivered stellar returns to its shareholders. At this time, the entertainment stock has risen from ₹40.30 to ₹129.45 apiece, logging to the tune of 225 percent in this time. So, it is one of the multibagger stocks that Dalal Street has produced in the last one year. In the last six months, Balaji Telefilms share price has given 150 percent return whereas, in the last one month, it has delivered over 40 percent return to its positional shareholders.

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Published: 08 Feb 2024, 03:22 PM IST