Entertainment Network (India) Limited updates on JV in Qatar

Global Entertainment Network Limited (GENL) is a joint venture company formed in the state of Qatar between the Company and Marhaba FM who is the owner of a radio frequency viz. 89.6 FM branded as 'One FM' in the state of Qatar.

GENL's business includes inter alia providing services in relation to operating and managing the operations of private FM radio stations, organising concerts and music awards, conducting digital operations/ music streaming, planning and executing events, designing television shows and undertaking other activities as mutually agreed between the parties, within the state of Qatar.

The Company has entered into a Management Agreement with Marhaba FM to provide services of managing the daily operations of its radio frequency. Marhaba FM has also co-branded its radio station as 'Mirchione FM' using the Company's trademarks as per the Brand and Content License arrangement with GENL.

Shares of ENTERTAINMENT NETWORK (INDIA) LTD. was last trading in BSE at Rs.150.6 as compared to the previous close of Rs. 156.35. The total number of shares traded during the day was 2263 in over 199 trades.

The stock hit an intraday high of Rs. 163 and intraday low of 148.25. The net turnover during the day was Rs. 348596.

Source : Equity Bulls

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