Raj Television inks pact with ASTRO-DTH; stock gains 18%

Private Broadcaster Raj Television Network Ltd has informed that the company has join hands with "ASTRO-DTH" one of the biggest DTH (Direct-To-Home) player in Malaysia for telecasting RajTV Channel in Malaysia through DTH platform.

Presently, the airing is going on as test run basis as per the norms and guidelines of the regulations even though the Company is expecting to blow its channels finally in to the Malaysian Air very shortly.

Under the agreement, the channel will be beamed 24x 7 on air in general entertainment. All the programs shall be available for the viewers on Malaysian time.

Since Malaysia is one of the cross boarder country with large Tamil population and heritage, so the Company feels media and entertainment will be the fastest medium of reaching the Tamil genres all across the Globe. The expected revenue for the first year are around USD 3,00,000 as per company estimates.

The contract shall be effective for five years originally and can be renewed with the mutual consent of both parties.

The scrip of Raj Television touched an intraday high of Rs 136 on NSE, after the news. The stock finally settles at Rs 134, up 18% compared with previous close of Rs 113. The total traded volume of shares was 591,882.

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