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MIB, DPIIT nod for transfer of ZEEL's digital publishing business to Rapidcube adgully.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from adgully.com Daily Mail and Mail on Sunday newspapers.
The board of Zee Entertainment Enterprises approved the transfer of digital publishing business division of the company to Rapidcube Technologies. The board of directors of the company on 17 December 2020, approved the transfer of the digital publishing business division of the company to Rapidcube Technologies (Rapidcube) through a business transfer agreement, the company said. The digital publishing business division of the company is valued at Rs 63.77 crore. It contributed Rs 32.80 crore revenue for FY19-20, constituting nearly 0.5% of the total standalone business. Net worth contributed by this digital publishing business division for FY 19-20 was Rs 63.20 crore. The date of completion of transfer of the digital publishing business division to Rapidcube would depend upon receipt of relevant approvals and completion of conditions precedent (as identified in the agreement for transfer of the business), the company said in a statement. ....
Here are the top stocks to watch in today s session: TCS: Tata Consultancy Services Rs 16,000 crore share buyback programme would open today. TCS would buy back up to 5.3 crore equity shares at Rs 3,000 apiece for an aggregate amount not exceeding Rs 16,000 crore. IT stocks: Stocks in the information technology (IT) space may hog the limelight today after Accenture reported better-than-expected results for the quarter ending November 30. For all of fiscal 2021, Accenture now sees revenue growth of between 4 per cent and 6 per cent, up from a previous forecast range of up 2 per cent to 5 per cent all in local currency Defence companies: Defence-related stocks are likely to be in focus after the Ministry of Defence said its its Defence Acquisition Council cleared proposals worth Rs 28,000 crore, of which acquisitions worth Rs 27,000 crore would be sourced from Indian industries. ....
Key indices are trading lower in early trade. At 9:25 IST, the barometer index, the S&P BSE Sensex, was down 93.58 points or 0.2% at 46,796.76. The Nifty 50 index was down 7.20 points or 0.05% at 13,733.50. Asian stocks are trading mixed. The S&P BSE Mid-Cap index was off 0.42%. The S&P BSE Small-Cap index was down 0.51%. The market breadth, indicating the overall health of the market, is weak. On the BSE, 802 shares rose and 1257 shares fell. A total of 82 shares were unchanged. Stocks in news: Zee Entertainment Enterprises (ZEE) declined 0.27%. ZEE said that the board of directors of the company has approved the acquisition of film production and distribution business as a going concern, on a slump sale basis from Zee Studios (formerly known as Essel Vision Productions), a wholly owned subsidiary of the company, for a cash consideration. Also the board of directors of the company considered and approved the transfer of the Digital Publishing Business Division o ....
The digital publishing business is valued at Rs 63.77 crores. 18 Dec, 2020 - 09:15 AM IST | By indiantelevision.com Team MUMBAI: Continuing with its restructuring, the ZeeL board has approved the transfer of its digital publishing business to Rapidcube Technologies, a subsidiary of group company Zee Media. The transaction values the business at Rs 63.77 crores, and Rapidcube will pay the amount by transferring its shares of Rs 10 each to ZeeL. The former’s share capital at the time of writing is Rs 10 lakh, which is being enhanced to enable the transaction. The date of completion of transfer of the digital publishing business division to Rapidcube would depend upon receipt of relevant approvals and completion of conditions precedent (as identified in the agreement for transfer of the business), the company said in a BSE filing. ....