Media stocks big gainers

MUMBAI: Sparked by a buoyant stock market, media stocks stood as big gainers on Monday. While the Bombay Stock Exchange benchmark Sensex scaled a new high to end the day 56.10 points up at 13,186.89, strong activity was seen in media scrips like Balaji Telefilms, TV18 and Zee Telefilms.

"There is a strong sentiment in favour of media stocks. Major action is happening in this sector and financial performances are improving," said a market analyst.

Balaji Telefilms gained 10.4 per cent in today's trade, moving up from the previous close of Rs 158.55 to end the day at Rs 175. TV18 rose 10.18 per cent to close at Rs 898.55 while UTV went up by 9.26 per cent to Rs 221.75.

Most of the other media stocks also firmed up with Zee Telefilms seeing a 3.62 per cent rise to close the trading session at Rs 337.65. Among the other gainers were TV Today (5.79 per cent to Rs 75.85), Sun TV (1.81 per cent to Rs 1264), Adlabs (1.88 per cent to Rs 365.55), K Sera Sera (1.43 per cent to Rs 31.95) and Bag Films (3 per cent to Rs 9.27). NDTV saw a marginal rise of 0.38 per cent with the scrip closing at Rs 236.30. Hinduja TMT, however, dipped by 1.48 per cent to Rs 519.15.

"There is investment interest in media companies from private equity and non media players," said an analyst in a brokering firm.

A recent indication of this is the buyout of 51 per cent stake in Asianet by former chairman and BPL Mobile CEO Rajeev Chandrasekhar. Several media companies have also recently raised money through public offerings. Raj Television Network Ltd has just filed documents with the market regulator, Securities and Exchange Board of India (Sebi), for its initial public offering (IPO).

"The media sector is set for further growth as digitalisation sets in. There is bound to be a rub-off effect in such stocks," the analyst said.

Latest Reads
Viacom18 launches Har Din Diwali campaign with exclusive pricing for COLORS & COLORS Kannada

Spreading the cheer this festive season, Viacom18 announces a-la-carte price for its flagship Hindi GEC COLORS and Kannada GEC COLORS Kannada at Rs 12/month each.  In line with this special festive price, Viacom18 is launching a consumer awareness campaign ‘Har Din Diwali’ encouraging viewers to...

Television TV Channels GECs
BARC week 40: Amazon, Flipkart’s festive season sales make them the top two brands

The Broadcast Audience Research Council (BARC) India has released its data for top advertisers and brands for the period between 28 September 2019 and 4 October 2019. The data reflects top 10 advertiser and brands across genre on Indian television, including OOH screen, (U+R): 2+, Individuals NCCS...

Television TV Channels Viewership
BARC week 40: No changes in Marathi and South GEC space

MUMBAI: In week 40 of BARC India ratings, no changes were observed in Marathi, Tamil, Telugu, Kannada and Malayalam space. In Bhojpuri space, Bhojpuri Cinema took the leading position and B4U which was leading last week has slipped to second position. In Bhojpuri space, Bhojpuri Cinema, B4U...

Television TV Channels Viewership
Explore the Spider-verse with the &pictures Hindi premiere of ‘Spider-Man: Into The Spider-Verse’ on 12th October at 8 pm

MUMBAI: Imagine, one morning you get up to discover that you have special powers like a superhero. Sounds interesting right! Well, similar is the story of a young lad Miles Morales who is stunned on finding out about his spider like abilities. But just when he thinks that he is the only one with...

Television TV Channels Movie Channels
Marking its 27th Anniversary, Zee announces attractive Festive Bonanza Offer on its leading entertainment channels

MUMBAI: The television industry has successfully managed to transition to the New Tariff Order (NTO) regime. Zee, as the leading television network of the country has collaborated extensively with industry players to ensure a smooth transition. To mark its 27th Anniversary, Zee has taken yet...

Television TV Channels GECs
BARC week 40: Star Plus slips to third position, SET continues to lead in urban market

In the week 40 of BARC India ratings, the leading Hindi GEC Star Plus slipped to third position, last week the channel was seen at second position but the channel continues to hold first position on pay platform. In the urban market, Sony Entertainment Television and Colors were seen at first and...

Television TV Channels Viewership
Star India announces festive offer for a-la-carte channels

In keeping with the festive spirit, Star India announces ‘Tyohar ka Upahar’, a promotional offer for its 16 a-la-carte channels including its popular channels -- Star Plus, Maa TV, Star Jalsha, Vijay, Asianet and Hungama TV. The festive offer prices will be available with immediate effect.

Television TV Channels GECs
vivo Pro Kabaddi set to offer INR 8 crore in prize money for Season 7

Mumbai:  The ‘Toughest Week’ of vivo Pro Kabaddi League Season 7 is all set to treat fans with exciting matches at EKA Arena by TransStadia, Ahmedabad. vivo Pro Kabaddi announces a consolidated prize money of INR 8 crore for the seventh edition.

Television TV Channels Sports
Bringing alive the adventure of Roadies, Viacom18 Consumer Products and Work With Fun launches ‘Café Roadies’

MUMBAI: Celebrating the robust legacy of one of India’s longest-running reality shows, Viacom18 Consumer Products in association with ‘Work With Fun’ announced the launch of ‘Café Roadies’ in Noida today. The café will be a social pad for those who take inspiration from the road less travelled...

Television TV Channels GECs

Sign up for our Newsletter

subscribe for latest stories