Media Scrips Beam Big Deals

Four media scrips from the B1 group posted record volumes on the Bombay Stock Exchange (BSE) today.

Balaji Telefilms, Crest Communication, Tips Industries, and Television Eighteen posted their highest-ever volumes in a single trading session on BSE.

Market sources attributed the trading interest to shift in operators' focus to frontline B1 group stocks which will not come under the compulsory rolling settlement cycle from July 2, 2001.

Crest Communication posted traded volumes of 12 lakh shares in 8583 trades on the BSE today against an average of 5 lakh shares traded daily. The stock has been consistently locked at 8 per cent circuit filter on Monday and Tuesday to close at Rs 83.80.

Television content provider, Balaji Telefilms also posted record volumes of 9 lakh shares in 8492 trades on the BSE against an average of 2 lakh shares traded daily. The stock too hit the 8 per cent circuit on two consecutive trading days to close at Rs 171.50, against its Friday close of Rs 147.05.

On the Televsion Eighteen counter, 5.59 lakh shares changed hands, in sharp contrast to its average traded volumes of 80 thousand shares a day. The scrip surged Rs 9.70 to close at Rs 98.70.

Subash Ghai promoted Mukta Arts, too hit the upper circuit on Monday and Tuesday. It closed Rs 160.25 today against its closing price of Rs 138.20 on Friday. On the BSE, 8.74 lakh shares were traded today, which is nearly eight times its average daily trading volume of 1 lakh shares.

Tips industries, promoted by Taurani brothers, posted record volumes of 9.82 lakhs. The stock was stuck at upper limit in the last two days. Compared to Friday's close of Rs 90, the stock closed today at Rs 104.90.

Adlabs Films, Cinevista Communications, Creative Eye, Pritish Nandy Communications were the others that gained 16 per cent against their Friday's close. Most of the media stocks gained in the range of 5-28 per cent since their Friday close, while volumes rose by more than 100 per cent.