Media shares rally on robust NDTV Q4 earnings
NDTV, TV Today, HT Media, Zee News, Network18 Media and Investments and TV18 Broadcast are up 6-20% on BSE.
Shares of media mainly those engaged in broadcasting business are in demand after New Delhi Television (NDTV) has reported a robust earnings for the fourth quarter ended March 31, 2013 (Q4).
NDTV stock has surged as much as 20% to Rs 90.15 on the Bombay Stock Exchange (BSE) in early morning deals. The stock is currently trading higher by 18.5% at Rs 89.
Besides NDTV, TV Today, HT Media, Zee News, Network18 Media and Investments and TV18 Broadcast are trading higher by in the range 6-10% on BSE. The benchmark Sensex is up 0.33% at 20,005 at 1011 hours.
NDTV on Thursday after market hours has reported a consolidated net profit of Rs 27.8 crore for Q4 against a net loss of Rs 41.30 crore in the corresponding quarter of the previous financial year. Operating profits too surged over four-fold to Rs 42 crore for the quarter, compared to Rs 8 crore in the previous year.
NDTV stock has surged as much as 20% to Rs 90.15 on the Bombay Stock Exchange (BSE) in early morning deals. The stock is currently trading higher by 18.5% at Rs 89.
Besides NDTV, TV Today, HT Media, Zee News, Network18 Media and Investments and TV18 Broadcast are trading higher by in the range 6-10% on BSE. The benchmark Sensex is up 0.33% at 20,005 at 1011 hours.
NDTV on Thursday after market hours has reported a consolidated net profit of Rs 27.8 crore for Q4 against a net loss of Rs 41.30 crore in the corresponding quarter of the previous financial year. Operating profits too surged over four-fold to Rs 42 crore for the quarter, compared to Rs 8 crore in the previous year.