Print media stocks in demand

Don't want to miss the best from Business Standard?

Shares of three print media companies rose by 2.30% to 5.62% at 9:38 IST on BSE on reports that the government is planning to raise the ceiling on foreign direct investment in newspapers and periodicals to 49% from current 26%.

H T Media (up 5.62%), Jagran Prakashan (up 3.34%) and D B Corp (up 2.30%), edged higher.

The S&P BSE Sensex was down 26.13 points, or 0.10% at 27,175.36.

Currently, the foreign direct investment (FDI) policy permits 26% FDI in the publishing of newspapers and periodicals dealing with news and current affairs through government approval route. According to reports, the finance ministry has recommended raising the FDI ceiling in print media companies to bring the sector on par with news television channels for the purpose of FDI limit. The Department of Industrial Policy and Promotion (DIPP) will decide on the matter, according to reports.

The HT Media Group publishes two premium English newspapers - Hindustan Times, a mainline daily, and Mint, a business newspaper. It also publishes Hindi newspaper Hindustan.

Jagran Prakashan is one of the largest print media groups of the country with 11 titles across 13 states in 5 different languages. The company is known for its Hindi newspaper Dainik Jagran.

D B Corp has presence in 14 states. It publishes newspapers in 4 different languages namely Hindi, Gujarati, Marathi and English. The major newspapers published by the company are Hindi newspaper Dainik Bhaskar and Gujarati newspaper Divya Bhaskar.

Powered by Capital Market - Live News