Media Stocks Beam Up

Four of the main media stocks hogged the limelight today on a buying spree from investors. The stocks of Zee Telefilms, Padmalaya Telefilms, Ad Labs and Sri Adhikari Brothers Television Network (SABTNL) gained on the BSE amid a weak market.

Zee Telefilms which had been witnessing a technically oversold position due to lot of selling in the last few sessions today attracted buyers at low prices.

The scrip gained 3.63 per cent today on the BSE to finally close the day at Rs 121.25. A total of 41.21 lakh shares changed hands on the BSE today. On the NSE, the scrip saw volumes of 62.82 lakh shares.

Adlabs Films was riding high on the news that the company has finalised one contract to manage a Multiplex Cinema in Mumbai. The company is also looking at few more theatre management proposals and also film production activities. All these are in line with the company's future plans.

The scrip closed higher by 2.38 percent at Rs 81.70. A total of 2.91 lakh shares and 3.65 lakh shares changed hands on the BSE and NSE respectively.

SABTNL, on the other hand, was riding high on the anticipation that its first quarter results are expected to be good, apart from the fact that the company is being eyed closely by a strategic investor who is looking to pick up stake in the company, analysts said.

The scrip hit an upperdeck of 8 per cent at the days high of Rs 165.20 to then finally close the day at Rs 159, up by 4.02 per cent. A total of 4.02 lakh and 9.71 lakh shares changed hands on the BSE and NSE today.

Padmalaya Telefilms saw a high of Rs 169 and closed the day at a gain of 9.51 percent at Rs 165.75. A total of 9.94 lakh shares changed hands on the BSE today. The scrip is listed only on the BSE.