Poll Vault: Media stocks surge on rising ad spend hopes

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Poll Vault: Media stocks surge on rising ad spend hopes

Media stocks are buzzing in today's trade. TV Today leads the pack with double digit gain. G Krishnan of TV Today, expects advertisement spends to improve after April. Advertisement spends are likely to be at par with last elections, he added.

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Media stocks were abuzz in today's trade. As of 10.25 am today,  TV Today was leading the pack with double-digit gains. Next on the list was Balaji Telefilms with an 8% gain. TV18 and ENIL were up 5% each.

Currently, the industry is dealing with a drop in advertising revenue, layoffs, and salary cuts, so why the sudden buzz?

G Krishnan, CEO of TV Today expects advertising spends to improve after April. He admits that while advertising revenues have slowed down, March will show better performance. "Advertising spends are likely to be at par with last elections."

Quashing rumours about TV Today Group's sale plans, he said that there were no plans to sell any property, and the company was looking at opportunities to acquire properties. 

The company's inventory utilization has reduced, and volumes have come down. But the company has decided to keep rates unchanged as of now. The company is focusing on being number one with Aaj Tak. TV Today stock gained 30% in the past seven trading sessions. Its 52-week high is Rs 131.55 and 52-week low is of Rs 47.50.