Reliance Capital (R-Cap) is in talks with UTV founder-promoter Ronnie Screwvala to scale up its stake in UTV News Ltd much beyond the 18 per cent it holds at present. UTV News Ltd runs English business channel Bloomberg TV. R-Cap, part of the Anil Dhirubhai Ambani Group (ADAG), may get a controlling stake in the venture if the negotiations fructify. According to three independent sources familiar with the developments, the company is also open to buying out the entire 66 per cent stake held by Screwvala. Screwvala holds 66 per cent stake in his personal capacity in the channel broadcast by UTV News, while 16 per cent is held by Bloomberg LP.
Reliance Capital declined to comment. The Reliance Group, owned by Anil Ambani, is already in the broadcasting space with Big CBS, under which it runs three English channels. Reliance Capital also has minority investments in TV Today and some other channels, which it has always claimed are just financial investments. The group has also tied up with the Europe-based RTL group for theme-based channels and runs Big Magic, a Hindi entertainment channel. Those in the know say as part of the exercise, the channel will be rebranded “Bloomberg India” and will also have a new logo. The announcements are expected in January. This will be the second rebranding for the channel launched by Screwvala in April 2008. In October 2009, the channel was rebranded Bloomberg UTV after it entered a strategic partnership with Bloomberg Television. The move comes close on the heels of The Walt Disney Co buying out UTV Software for more than Rs 2,000 crore. The channel competes with business news channels such as CNBC-TV18, NDTV Profit and ET Now, the English business news channel by Bennett, Coleman and Co Ltd. According to data released by TAM Media Research, Bloomberg currently has 8.2 per cent share of the English business news audience. It trails CNBC-TV18, the leader with 49.8 per cent share of the audience, followed by ET Now with 26.7 per cent and NDTV Profit with 15.3 per cent.
| Company Name | CMP |
|---|---|
| Bajaj Finance | 6685.45 |
| Shriram Finance | 2852.45 |
| Aditya Birla Capital | 186.55 |
| SBI Cards AndPayment | 679.45 |
| Mah & Mah Finl. Serv | 263.55 |
| View more.. | |
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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