IOL Broadband gains on BSNL tie-up for IPTV
IOL Broadband jumped 5% to Rs 277.85 after the company said on Wednesday it has tied up with state-owned telecommunications company Bharat Sanchar Nigam for providing Internet Protocol TV.6.9 lakh shares changed hands in the counter on BSE.
In October 2006, another state run telecom firm Mahanagar Telephone Nigam tied up with IOL Broadband to provide IPTV (Internet Protocol TV) service in Mumbai. MTNL's IPTV service beams in 25 channels, which include the channels from the Star TV network and some free to air channels as well. IPTV enjoys the benefits of traditional cable television but with the added ability to let users watch what they want at their convenience. While it is similar to what traditional cable companies offer, the selection isn't limited to movies or special titles. Everything on the screen, including television shows, is on-demand.
The IOL Broadband stock witnessed a sharp and swift rally since mid-November 2006. From Rs 97.15 on 17 November, the stock rose 172% to Rs 264.65 by 2 January 2007. The scrip is currently in trade-to-trade segment.
Late last month, RBI said foreign institutional investors (FIIs) can purchase equity shares and convertible debentures of IOL Broadband up to 49% of its paid up capital of the company. RBI raised FII holding in IOL Broadband to 49% after the company’s shareholders had passed a resolution for hike in FII holding.
Recently, IOL Broadband allotted 7,00,000 equity share warrants carrying an entitlement to subscribe to an equivalent number of equity shares of Rs 10 each at Rs 95 per share (including premium of Rs 85 per share) to Maula Trading Company.The company’s current equity base is Rs 20.92 crore.
In October 2006, another state run telecom firm Mahanagar Telephone Nigam tied up with IOL Broadband to provide IPTV (Internet Protocol TV) service in Mumbai. MTNL's IPTV service beams in 25 channels, which include the channels from the Star TV network and some free to air channels as well. IPTV enjoys the benefits of traditional cable television but with the added ability to let users watch what they want at their convenience. While it is similar to what traditional cable companies offer, the selection isn't limited to movies or special titles. Everything on the screen, including television shows, is on-demand.
The IOL Broadband stock witnessed a sharp and swift rally since mid-November 2006. From Rs 97.15 on 17 November, the stock rose 172% to Rs 264.65 by 2 January 2007. The scrip is currently in trade-to-trade segment.
Late last month, RBI said foreign institutional investors (FIIs) can purchase equity shares and convertible debentures of IOL Broadband up to 49% of its paid up capital of the company. RBI raised FII holding in IOL Broadband to 49% after the company’s shareholders had passed a resolution for hike in FII holding.
Recently, IOL Broadband allotted 7,00,000 equity share warrants carrying an entitlement to subscribe to an equivalent number of equity shares of Rs 10 each at Rs 95 per share (including premium of Rs 85 per share) to Maula Trading Company.The company’s current equity base is Rs 20.92 crore.
posted by SY at 4:05 PM
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