June 18, 2018 / 7:30 AM / 3 months ago

BUZZ-India's HT Media rises on deal with retailer Koovs

** HT Media company’s shares gain as much as 4.7 pct to 80.5 rupees, their biggest intraday pct gain since April 27

** London-listed fashion retailer Koovs PLC on Monday said it has entered into a conditional agreement for 2- year, 24 mln pound ($31.79 million) deal with strategic partner HT Media

** Koovs will buy four 6-million-pound tranches of media services from the owner of English language daily Hindustan Times at six monthly intervals over a two-year period

** HT Media also runs English language financial daily Mint and Hindi newspaper Hindustan besides internet and radio broadcasting businesses

** More than 260,000 shares change hands as of 0716 GMT vs their 30-day moving avg of 124,180 shares

** Stock top pct gainer on the Nifty Media index

** Three of 12 brokerages rate the stock “buy” or higher, five “hold” and four “sell” or lower; their median PT is 95 rupees, according to Thomson Reuters data

** Up to Friday’s close, stock had fallen 24.6 pct compared with a 8.2 pct decline in the Nifty Media index

$1 = 0.7549 pounds

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