Television Eighteen India Limited has announced that Web18, its internet and mobile arm, has entered into an agreement to sell all its shares in Jobstreet.com India Private Limited to JobStreet.com Pte. Ltd, Singapore on the basis of the net tangible assets value of Jobstreet.com India Private Limited.
This sale is in line with the long term strategy of Web18 of consolidating its operations. Such sale will result in an non-operating exceptional expense arising out of disposal of long term investment of approx Rs 2.50 crores in the financials of Web18 for quarter ending March, 2010.
The stock closed the day at Rs.73.05, down by Rs.0.45 or 0.61%. The stock hit an intraday high of Rs.74.45 and low of Rs.71.90.
The total traded quantity was 154788 compared to 2 week average of 137490.
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Union Budget