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NDTV shares shed 7%; hit one-year low on CBI searches

New Delhi: Shares of NDTV on Monday slumped nearly 7 per cent after the CBI searched the residence of its founder Prannoy Roy here and three other locations for allegedly causing losses to a private bank.

The stock tanked 6.74 per cent to Rs 58.10 — its 52-week low — on BSE.

At NSE, shares of the company dived 6.88 per cent to hit a one-year low of Rs 58.15.

The agency has registered a case against Roy, wife Radhika and RRPR Holdings for allegedly causing losses of Rs 48 crore to ICICI Bank, CBI sources said.

NDTV has termed the exercise a “witch-hunt” based on false accusations.

“This morning, the CBI stepped up the concerted harassment of NDTV and its promoters based on the same old endless false accusations,” NDTV said in a statement.

It said NDTV and its promoters would fight tirelessly against this witch-hunt by multiple agencies.

PTI