| MUMBAI:
Media stocks, which took a battering during the course of 2008, saw a weak rebound
in the New Year. Analysts do not expect a quick turnaround in 2009 as fears grip
the market of an economic slowdown despite the government announcing a financial
stimulus to spur growth. The
biggest gainer on Friday, the last trading day of the week, was Entertainment
Network India Ltd (ENIL) which rose 13.71 per cent, beating the Sensex which climbed
0.6 per cent to end at 9,958.22. ENIL, which operates the Radio Mirchi brand,
closed at Rs 180.35, up from the previous day's close of Rs 158.6.
Raj Television was the next biggest gainer with a 12.08 per cent increase, closing
Friday at Rs 55.65. The stock had plunged during the year, unable to sustain the
momentum. Southern
media giant Sun TV, which had gained in recent days, fell 1.62 per cent to Rs
185.10. Mid-Day
Multimedia, which houses Radio One, grew 3.9 per cent and closed at Rs 15.2 on
the BSE. Among
the multiplex chains, Cinemax closed at Rs 46.95, 11.26 per cent higher from Rs
42.2. Fame India also registered a 7.99 per cent rise and closed at Rs 20.95.
PVR Ltd, closed at Rs 105.35, 4.77 per cent higher then its previous Rs 100.55.
Adlabs
Films closed at Rs 191.35 (previous Rs 186.9), up by 2.38 per cent. Pyramid Saimira,
which was in news in last week over a forged Sebi letter, fell 4.61 per cent and
closed at Rs 40.35. Most
media heaveyweight stocks, however, did not fare well. Zee Entertainment Enterprise
Ltd shed 3.63 per cent (Rs 138) while sister company Zee News Ltd was marginally
up by 0.7 per cent (Rs 36.05). Zee's
cable TV distribution company WWIL rose 0.16 per cent growth to end Friday at
Rs 12.88. Dish TV rose 3.13 per cent rise and closed at Rs 21.4.
UTV Software Communications ended at Rs 264.1, down 2.56 per cent. TV
news media company TV18 gained 4.37 per cent (Rs 100.35), while IBN18 closed at
Rs 104.9, up 2.74 per cent. Parent company Network18 saw a marginal growth of
1.53 per cent (Rs 109.2).
NDTV fell 4.88 per cent (Rs 123.65) while TV Today grew 1.05 per cent (Rs 81.7).
TV content company Balaji Telefilms climbed 4.93 per cent to close Friday at Rs
71.25. Shares of BAG Film and Media fell 3.91 per cent (Rs 17.22). | 
