Shares of Indian news broadcaster New Delhi Television Ltd rose over 4% on Monday after founders Prannoy Roy and Radhika Roy said they would transfer their 27.26% stake in the company to Adani Group.
Following the deal, the Indian conglomerate, led by billionaire Gautam Adani, will control 64.71% of NDTV, while the founders will jointly retain 5%.
TRA Research CEO N. Chandramouli said investors may take interest in NDTV shares in the hope of improving financial condition.