SBI Life Insurance buys nearly 31 lakh shares of TV18 Broadcast

SBI Life Insurance Company Ltd recently acquired a 30.66 lakh shares of TV18 Broadcast Ltd in a deal worth Rs 8.43 crore through open market route. As per bulk deal data, SBI Life Insurance Company purchased 30.66 lakh shares of TV18 Broadcast for Rs 8.43 crore on the National Stock Exchange.

In another bulk deal, SBI Life Equity Fund purchased 19.34 lakh shares of the media firm for Rs 5.32 crore on BSE. Separately, Franklin Templeton Mutual Fund offloaded 18.86 lakh shares of TV18 Broadcast on the NSE for a deal valuing at Rs 5.19 crore.

Besides, Templeton Mutual Fund sold about 19 lakh shares of the media firm for Rs 5.22 crore on the BSE. At both the bourses, the transactions took place at an average price of Rs 27.5 apiece. Shares of TV18 Broadcast jumped by over 12 per cent to close at Rs 30 apiece on the BSE.