Meanwhile, the S&P BSE Sensex was down 367.89 points or 1.15% at 31,706.89. The S&P BSE Mid-Cap index declined 89.14 points or 0.59% at 15,108.31.

On the BSE, 56.97 lakh shares were traded on the counter so far as against the average daily volumes of 8.20 lakh shares in the past one quarter. The stock had hit a high of Rs 41.85 and a low of Rs 38.35 so far during the day. The stock had hit a 52-week high of Rs 50 on 10 October 2016 and a 52-week low of Rs 33.15 on 24 May 2017.

The stock had outperformed the market over the past one month till 17 July 2017, advancing 9.68% compared with the Sensex's 3.28% rise. The stock had, however, underperformed the market over the past one quarter, declining 4.39% as against the Sensex's 9.05% rise. The scrip had also underperformed the market over the past one year, gaining 1.1% as against the Sensex's 15.23% rise.

The mid-cap company has equity capital of Rs 342.87 crore. Face value per share is Rs 2.

TV18 Broadcast's consolidated total income rose 2.9% to Rs 226.72 crore in Q1 June 2017 over Q1 June 2016.

Adil Zainulbhai, Chairman of TV18, said that the industry is navigating through a period of flux in both the advertising environment and the subscription business model; but underlying growth tailwinds are intact and bode well for committed players. The management believes that TV18 is well-positioned to capitalize on its strengths in content curation and creation of scalable platforms for seamless delivery.

TV18 Broadcast telecasts and produces news and current affairs programmes.