Reliance MediaWorks scrip soars 17%

ADAG firm Reliance MediaWorks today zoomed over 17 per cent in the morning session at the Bombay Stock Exchange (BSE), amid a sluggish broader market.

Anil Ambani-led Reliance MediaWorks soared 17.25 per cent to touch its early high of Rs 291.25 on the BSE, driven by heavy buying.

"Although, the company had reported a net loss of Rs 44.7 crore for the September quarter, but it was still better than what the Dalal Street had expected which is driving the up move in the stock," Geojit BNP Paribas Financial Services AVP Gaurang Shah said.

Similarly, on the National Stock Exchange, the stock was trading at Rs 294, reflecting a surge of 18.14 per cent.

In terms of volume, over 70 lakh shares of the company were traded on the bourses within first two hours of the trade.

Meanwhile, entertainment firm PVR also rose 4.17 per cent to reach its early high of Rs 176 on the BSE, boosted by a growth of 39.28 per cent in its consolidated net profit at Rs 8.97 crore for the quarter ended September 30.

However, the BSE Sensex was quoting down by 27 points at 20,328.62.