Why Spotify music distributor Saregama’s stock went out of tune today?

Saregama India shares declined 3.8 per cent in trade and registered an intraday low of Rs 515.55 per share on NSE. The counter saw selling after the company reported a slip in consolidated net profit and adjusted Earnings before interest, tax, depreciation and amortisation (Ebitda) year-on-year (Y-o-Y) in Q2FY25.

Around 12:35 PM, Saregama shares were down 3.24 per cent at Rs 518.95 per share on BSE. In comparison, the NSE Nifty was down 0.45 per cent at 23,887.1. The market capitalisation of the company stood at Rs 10,005.85 crore. The 52-week high of the stock was at Rs 688.9 per share on NSE and 52-week low of the stock was at Rs 325.85 per share.