HT Media rises on entering into agreement with Apollo Global's affiliate

HT Media is currently trading at Rs 124.00, up by 0.50 points or 0.40% from its previous closing of Rs 123.50 on the BSE.

The scrip opened at Rs 124.80 and has touched a high and low of Rs 129.90 and Rs 122.25 respectively. So far 1727 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 175.00 on 28-Jun-2011 and a 52 week low of Rs 115.00 on 24-Nov-2011.

Last one week high and low of the scrip stood at Rs 129.90 and Rs 117.00 respectively. The current market cap of the company is Rs 2902.51 crore.

The promoters holding in the company stood at 68.84% while Institutions and Non-Institutions held 24.64% and 6.53% respectively.  

HT Media (HTML) has entered into an agreement with an affiliate of Apollo Global, Inc. (USA), to participate in a 50:50 joint venture (JV) company which is intended to provide high quality educational services and programs in India. The closing under the JV is subject to reasonable and customary closing conditions, which are expected to be satisfied in the near future.

The venture between HTML and Apollo Global, a subsidiary of Apollo Group, Inc. (USA), is intended to address the urgent need for quality educational services in the country and the education?employment mismatch to help India’s business community impart with better training and empower employees for a 21st century global workplace.

Apollo Global was formed in 2007, is a joint venture between Apollo Group, Inc. and private equity firm, The Carlyle Group. Through the roster of services it provides, Apollo Global aims to broaden student opportunity, grow the knowledge base of the communities it serves and advance the educational landscape worldwide.

Apollo Group, Inc. is one of the world's largest private education providers and has been in the education business for more than 35 years. The Company's programs and services are provided in 40 states and the District of Columbia in the USA, Puerto Rico, Latin America, and Europe, as well as online throughout the world.

HT Media is one of India’s foremost media companies, and home to three leading newspapers in the country in the English, Hindi and Business news segments - ‘Hindustan Times’ (English daily), ‘Hindustan’ (Hindi daily, through a subsidiary) and ‘Mint’ (business daily).