Reliance MediaWorks surges 20%; stock hits upper circuit
Mumbai: Shares of Reliance MediaWorks Monday skyrocketed by 20 percent, after the company announced rejigging of its business under two divisions -- Film and Media Services and Exhibition.
Reliance MediaWorks shares rose by 20 percent to touch the upper circuit limit -- the highest permissible trading limit for the day -- of Rs 66.30 on the BSE.
Similarly at the National Stock Exchange (NSE), the scrip jumped 19.98 percent to Rs 66.35.
In terms of volume, 5.73 lakh shares were traded on the BSE, while over 13 lakh shares changed hands on the NSE.
Reliance MediaWorks on Friday announced the appointment of Venkatesh Roddam and Ashok Ganapathy as the segment heads, while CEO Anil Arjun has stepped down from his post.
Arjun, however, will continue with the company as a strategic adviser.
RMW had recently announced signing of a pact with an international private equity firm for a funding of Rs 605 crore for its film and media services division.