UTV’s stock hits a high note on bourses


    MUMBAI: UTV Software Communications is the latest buzzing entertainment stock on the Indian bourses.


    The company’s stock touched its 52-week high of Rs 608.00 before ending the day at Rs 589.70 (up 6.29 per cent), even while the Bombay Stock Exchange (BSE) index fell by 54.06 points today (11 September, 2007).


    UTV’s share has been up by 24 per cent in the last one week and has moved from Rs 478.65 as of 4 September, 2007 to Rs 589.70 today. The launch of the company’s new youth based general entertainment channel Bindass along with Malaysia’s Astro is impending.


    Movies that are in the pipeline from the company’s AIM listed subsidiary – UTV Motion Pictures are Welcome, Jodhaa Akbar and Dhan Dhana Dhan Goal.


    On the other hand, other film companies like Tips Industries also touched its 52 week high of Rs 74.85 before ending the day at Rs 70.20; whereas Saregama India has gained almost 31.17 per cent in the last six trading sessions alone.