Moneycontrol
Apr 20, 2017 12:51 PM IST | Source: Moneycontrol.com

Network 18 Media up 6% on board nod to sell food search engine BURRP

The board has given in-principle approval to sell/ transfer/otherwise dispose-off or transfer BURRP to any other entity including a related party/ getting a strategic investor.

Network 18 Media up 6% on board nod to sell food search engine BURRP

Moneycontrol News

Shares of Network 18 Media & Investments gained 6.3 percent intraday Thursday as it is going to sell/transfer its food search engine BURRP.

"The board has given in-principle approval to sell/ transfer/otherwise dispose-off or transfer BURRP to any other entity including a related party/ getting a strategic investor," company said in BSE release.

The company in its board meeting held on April 19, evaluated the proposal of restructuring its business of food and restaurant search and recommendation engine operated under the name BURRP, which has insignificant contribution to the revenue of the company.

Also ReadNetwork 18 narrows Q4 loss to Rs 33 cr, revenue rises 23% to Rs 434 cr

At 10:36 hrs Network 18 Media & Investments was quoting at Rs 41.55, up Rs 1.20, or 2.97 percent on the BSE.

Disclosure: Network 18 is the parent company of Web18, which publishes Moneycontrol.com.

Posted by Rakesh Patil
Sections
Follow us on
Available On