Sri Adhikari Brothers Television Network has seen its shares consistently ending nearly 2% higher every session since April. Continuing this trend, the stock was 2% up on Friday, recording a new 52-week high of ₹852.15 on BSE.

What Happened: The owner of Hindi channel SAB Network, Sri Adhikari’s stock has been oscillating between gains of 1.97% to 2% in every session since April 30 after ending 88.46% lower on April 2, when it was re-listed on the exchanges.

After the reduction of share capital, the stock was re-listed on the exchanges on April 2, at ₹41 per share. Since then, it has consistently hit the upper circuit, surging 1,900% to date. The stock is currently trading at 192 times its book value.

The stock currently trades in the “T” segment on the BSE and the exchanges have put the stock under enhanced surveillance measure, stage 2. T-group shares are securities designated under the Trade-to-Trade segment by the exchange to identify higher-risk stocks.

These stocks are not permitted for intraday trading; T2T stocks can only be traded on a delivery basis, meaning that buyers must take delivery of the shares.

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Founded in 1994, Sri Adhikari Brothers Television Network Ltd is a media company that specialises in content production and the syndication of content to various broadcasters, aggregators and satellite networks. It is famous for its light humour-centric television brand known as SAB TV.

On October 30, 2018, the Central Bank of India submitted an application to the National Company Law Tribunal in Mumbai as a financial creditor to initiate the Corporate Insolvency Resolution Process (CIRP).

The company is not generating any revenue from operations, with the only income coming from other sources, which includes around 11% from interest and dividend income, and around 89% from rent and other income.

In the quarter ended June, the company made a profit of ₹5 lakh, compared with a loss of ₹5.29 crore the previous year.

Price Action: Shares of Sri Adhikari Brothers Television Network were up 2% at ₹852.15 on Friday.

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