Hinduja arm NXTDigital's shares up around 40% in 2 trading sessions

When benchmark Indian indices were on a downward trend due to Omicron concern-led weak broader market sentiment, shares of NXTDIGITAL have risen around 40 per cent in the past two trading sessions.

On Friday, Sensex and Nifty settled at 57,696.46 points and 17,196 points, down 1.31 per cent and 1.18 per cent from its previous close, respectively.

NXTDIGITAL, a subsidiary of Hinduja Group, provides digital television services to consumers.

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On Friday, shares of the company settled at Rs 472.50, nearly 11 per cent higher from its previous close. The intra-day high was Rs 511.8 per share.

Notably, the company has recently raised Rs 560.13 crore through rights issue, against an issue size of Rs 288.61 crore.

Also, the company has reportedly been taking steps to liquidate non-core assets to pare its debt obligations.