Media stocks surged in trade, tracking a rebound in the broader market. Sentiment for media stocks seem to be improving amid expectations of a recovery in the second half of FY25,backed by hopes of stronger ad revenues and box office collections from Q3.
The newly-released Prabhas' multi-starrer film 'Kalki 2898 AD' achieved remarkable box office success, becoming 2024's highest-grossing Indian film in just three days
Zee Entertainment posted a net profit of Rs 13.3 crore in Q4FY24 as against a consolidated net loss of Rs 196 crore in the year-ago period
That apart, their relatively lower valuations make them an attractive pick for investors looking for pockets of growth opportunities.
The board of Adani Group-backed NDTV on November 28 announced resuming activities of NDTV Profit channel from December 8. Earlier this year, the Adani Group acquired a majority stake in the media company
In the past three months, the stock of PVR-Inox has surged 21 percent as against 3 percent decline in the Sensex benchmark
Both TV18 Broadcast and Network18 Media stocks soared up to 10 percent. Other media shares such as DB Corp, PVR Inox, Dish TV, Sun TV were also up in the range of 1-5 percent.
Speaking to CNBC-TV18, Sandeep Bhatia, Head of Equity at Macquarie Securities Group, said the market would present several opportunities this year.
Ramesh Damani, member, BSE said the undertone of the market was quite strong, and there was every reason to be optimistic.
Brokerage firm Anand Rathi is buoyant about the Indian media sector. Digitisation across the country has resulted in huge investment in the media sector, which is likely to translate into higher revenues for the entire value chain of the sector, Yogesh Kirve of Anand Rathi told CNBC-TV18.
CNBC-TV18's managing editor Udayan Mukherjee explains that the market closing 4.5% higher indicates a break-out week and adds that PSUs and midcaps have led the rally.
In an interview to CNBC-TV18, SP Tulsian of sptulsian.com said that for the next one month he is keeping a positive view on media and cement sector. He also recommended four media stocks, namly; Balaji Tele, Zee Entertainment, Hathway and Dish TV.
Buy Godrej Industries, says Sudarshan Sukhani of s2analytics.com. It has run up a lot, so a stop is required but I wouldn‘t be surprised if it eventually crosses Rs 300 and goes much higher.