By “Balaji Telefilms, once a dominant force in the television production industry, is experiencing a resurgence, fueled by the backing of Reliance Industries. The company’s shares have witnessed a notable upswing in recent days, transforming it into a multibagger stock. In Wednesday’s morning trading session, the stock was valued at Rs.132, climbing from Rs.66 just three months ago on November 28, 2023. This impressive surge signifies a doubling in share value. An investment of Rs.1 lakh in Balaji Telefilms three months ago would now be worth Rs.2 lakh.
Balaji Telefilms, founded by Ekta Kapoor, was a prominent stock until 2007 when its share price peaked at Rs.354. Subsequently, it faced a gradual decline, attributed to heightened competition in the small screen production industry.
The recent attention on Balaji Telefilms intensified after the teaser release of the movie ‘Crew,’ featuring Kareena Kapoor, Tabu, Kriti Sanon, and Diljit Dosanjh. Co-produced by Ekta Kapoor and Rhea Kapoor, the film has garnered interest in Balaji Telefilms’ shares, given Ekta Kapoor’s role as one of the promoters, holding 18.23 percent of the total paid-up capital.
Balaji Telefilms, marked by its market capitalization of Rs.1.28 lakh crore, has made a recovery with the support of Reliance Industries, which holds a 24.9 percent stake in the company. To further boost its financial position, Balaji Telefilms has decided to issue 2.38 crore warrants valued at around Rs.214 crore.”
