Stock Overview: These 2 Mid-Cap Stocks Zoom Up to 20% on Thursday

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Stock Overview: These 2 Mid-Cap Stocks Zoom Up to 20% on Thursday
Credit: © Reuters.

By Malvika Gurung

Investing.com -- TV18 Broadcast (NS: TVEB )

Shares of the media company soared 20% at Rs 58.5 apiece, hitting its upper circuit on Thursday, after the investment company Lupa India informed being in the final stages of acquiring a 39% stake in Viacom 18, a joint venture between Reliance (NS: RELI ) Industries-led TV18 and the US-based ViacomCBS.

Lupa India is set up by Uday Shankar and James Murdoch, and they are expected to invest over Rs 12,000 crore in Viacom 18’s sports and entertainment business, besides Reliance. 

While ViacomCBS is expected to sell a portion of its stake in Viacom18, RIL is set to continue holding a majority stake in the company.

Sharda Cropchem (NS: SHCR )

The agro-chemical stock ended 10% higher at Rs 577.85 apiece on Thursday, continuing its 4-day rally. In the past 4 sessions, the stock has zoomed 58%.

The stock has been surging since the release of its earnings report for Q3, as its net profit jumped 111.2% YoY to Rs 102 crore, and revenue surged 78% YoY to Rs 879.8 crore, due to strong volume growth across geographies, along with improved product mix and price realization.

Due to economies of scale, effective cost management and higher freight cost, its EBITDA margin improved by 220 bps YoY to 22.8% in Q3.

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