The announcement was made after market hours on Tuesday, 19 November 2013.

Meanwhile, the S&P BSE Sensex was down 39.04 points or 0.19% at 20,851.78.

On BSE, 16,000 shares were traded in the counter as against average daily volume of 7,685 shares in the past two weeks.

The stock hit a low of Rs 59.70 so far during the day.

Credit rating agency CARE has assigned rating of CARE AAA (SO) to long term bank facilities of Rs 12 crore of Reliance Broadcast Network based on the credit enhancement in the form of unconditional and irrevocable corporate guarantee provided by Reliance Capital (RCL) for ensuring the timely servicing of the bank facilities of Reliance Broadcast Network. RCL is a financial services company of the Anil Ambani-led Reliance group.

Reliance Broadcast Network reported a consolidated net loss of Rs 18.70 crore in Q2 September 2013, lower than net loss of Rs 21.71 crore in Q2 September 2012. Net sales rose 14.9% to Rs 55.72 crore in Q2 September 2013 over Q2 September 2012.

Reliance Broadcast Network is a multi-media entertainment company with presence across radio broadcasting (92.7 BIG FM), television content production (BIG Productions) and television broadcasting (BIG Magic, BIG CBS and BIG RTL). Reliance Broadcast Network belongs to the Anil Ambani-led Reliance Group.