New Delhi, July 18 -- Shares of Saregama India Ltd. rallied sharply on Friday, July 18, climbing as much as 6.7 percent in intraday trade to touch a high of Rs.520 after the company announced a significant acquisition in the regional music space. The stock gained ground after Saregama revealed that it had acquired the music catalogue and YouTube assets of NAV Records Pvt. Ltd., the largest and most influential player in the Haryanvi music industry.

The deal marks a strategic expansion of Saregama's regional music portfolio. With this acquisition, the company will take ownership of over 6,500 tracks across genres including Haryanvi, Punjabi, Ghazals, Devotional, and Indie Pop. Additionally, Saregama will gain control over NAV's immensely ...