UTV Software advances on collaborating with Bloomberg

UTV, India’s leading integrated media an entertainment enterprise, and Bloomberg, the global leader in business news and information, will collaborate for a television channel to deliver unsurpassed real-time business, economic and political news to households across India.

The scrip is currently trading at Rs 487, up by 1.90 point or 0.39% on the BSE.

The stock opened at Rs 501.90 as compared to its previous close of Rs 485.10. Intraday, the counter touched a high and a low of Rs 508 and Rs 481.20 respectively.

So far, 32,749 shares of the company were traded on the BSE.

The stock touched its 52-week high of Rs 815 on September 10, 2008 and a 52-week low of Rs 182 on March 6, 2009.

The scrip has gained by 4.64% since the past one week and by 10.97% since the last one month.

UTVi is an English business news channel launched by the Indian promoter group of India’s leading media and entertainment company, UTV Software Communications.

The existing business news channel will become the premier business and financial broadcast news outlet in this important market. Starting next month, the business news channel UTVi will be re-branded as Bloomberg-UTV.

For the first time UTVi’s local newsgathering, production and distribution expertise will combine with the deep financial news capabilities and global reach of Bloomberg to broadcast news and information for and about the Indian market. Indian TV viewers will have access to the Bloomberg Television network’s global feed, supported by 145 Bloomberg News bureaus around the world.

Bloomberg-UTV will incorporate substantial international programming elements from the Bloomberg Television worldwide network and viewers will benefit from close cooperation between the organisations’ editorial and production teams. In addition, the website UTVi.com which is fastest growing financial portal in India, will be re-branded as bloombergutv.com with enhanced content from Bloomberg.