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Media stocks stable despite high volatility in tech counters
 
Indiantelevision.com Team

(19 April 2003 2:00 pm)
 
MUMBAI: The BSE sensex finished the week flat at 2985, after losing 3.2 per cent over the past one month. The week was marked by high volatility of tech stocks. Many software stocks dipped on the country's stock exchanges due to disappointing results of major tech companies. However, the listed media stocks and TV companies survived.
 
 

On 17 April, Zee Telefilms opened the day at Rs 67.4 on the Bombay Stock Exchange (BSE), and ended the day at Rs 67.4 (as compared to Rs 65.80 on 12 April). The volume of shares trades was around 507,298 shares.

At the National Stock Exchange (NSE), the Zee Telefilm scrip started the day (17 April) at Rs 68.30; fell marginally by 0.07 per cent and ended the day at Rs 67.50 (as compared to Rs 65.50 on 12 April). The volume of shares traded was around 1.01 million.

The Balaji Telefilms scrip opened and ended the day (17 April) at Rs 60.85 (as compared to Rs 59.75 on 12 April) on the BSE. On the NSE, it fell by 1.23 per cent to end the day at Rs 61.80 as compared to Rs 59.10 on 12 April.

Sri Adhikari Brothers Television Network (SABTNL) finished the day (17 April) at Rs 48. On the NSE, the scrip rose to Rs 48.95 - up 1.98 per cent.

Cinevistaas grew by 3.86 per cent to end the day (17 April) at Rs 21.30 - slightly lower than 22.85 as on 11 April on the BSE. On the NSE, it rose by 2.53 per cent to end the day at Rs 22.30.

Creative Eye again touched the Rs 10-mark as against Rs 9.75 on 12 April on the BSE as well as the NSE.

The ETC Networks scrip rose by 0.12 per cent to end the day (17 April) at Rs 41.15 (as compared to Rs 39.80 on 12 April).

Several analysts feel that the sentiments will be driven by realistic growth expectations and dividend yields. Zee Telefilms will also declare its financial results towards the end of the month and the counters should witness increased activity.

 
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