Entertainment Network (India) is currently trading at Rs. 815.50, up by 11.60 points or 1.44% from its previous closing of Rs. 803.90 on the BSE.
The scrip opened at Rs. 800.00 and has touched a high and low of Rs. 828.40 and Rs. 800.00 respectively. So far 204 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 907.95 on 04-Oct-2016 and a 52 week low of Rs. 624.00 on 29-Feb-2016.
Last one week high and low of the scrip stood at Rs. 828.40 and Rs. 767.40 respectively. The current market cap of the company is Rs. 3887.52 crore.
The promoters holding in the company stood at 71.15%, while Institutions and Non-Institutions held 18.94% and 9.91% respectively.
Entertainment Network (India) (ENIL) has acquired licenses in 21 new cities. These are Bhavnagar, Jamnagar, Junagadh, Mehsana, Bharuch and Palanpur in Gujarat, Akola and Amravati in Maharashtra, Tiruchirapalli and Tirunelveli in Tamil Nadu, Rajahmundry in Andhra Pradesh, Warangal in Telengana, Durg/Bhilai and Raigarh in Chhatisgarh, Hubli/Dharwad and Mysuru in Karnataka, Ujjain in Madhya Pradesh, Jhansi in Uttar Pradesh, Asansol and Siliguri in West Bengal and the Union Territory of Puducherry. The company had earlier participated in the 2nd batch of Phase-3 auctions held between October 26 and December 14, 2016.
With these 21 cities, the core Mirchi brand will expand its footprint deeper into strategically important and fast growing cities and states. Its presence will increase from 43 to 64 cities in India. The total value of bids made by ENIL is Rs 51.3 crore. These frequencies are expected to become operational towards the end of FY18.
With this, Mirchi will further cement its leadership position in the radio space. With revenues of Rs 508.6 crore and PAT of Rs 100.0 crore in FY16, it is the leader by far.