In Friday's trade, shares of media company NDTV were locked in 10% upper circuit after the company entered into a deal with a content discovery company, Taboola.
In the deal that spans a total of 5 years NDTV Convergence is exclusively tied to Taboola and also there is a minimum guarantee of over Rs. 300 crore for NDTV Convergence. The deal is not just the biggest deal in online space but in entire media space.
Shares of the company surged close to 7% and with no sellers and pending buy orders for 79,888 shares, the company shares have been locked at 10% upper circuit.
The share of NDTV is locked at an upper circuit of Rs. 39.25 on the BSE and Rs. 39.15 on the NSE.
Meanwhile the broader Sensex after opening loss surged back and then continued to trade lower. Rupee also remained steady with no opening gains at 69.72 per US dollar.