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Radio City operator Music Broadcast closes 12% higher on Day 1

Radio City operator Music Broadcast closes 12% higher on Day 1

Friday, March 17, 2017, 5:28 PM

Shares of Music Broadcast, the operator of FM radio channel, Radio City, closed 12% higher after witnessing a stellar listing. Stock sees strong movements after opening 24% higher on Friday; the company plans to pare debt worth Rs 150 crore immediately through the fresh issue of proceeds. CFO of Jagran Prakashan said radio business can give a margin anywhere around 40%.
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