Media shares rally as government hikes ad rates for print media by 25%

HT Media, Hindustan Media Ventures, Jagran Prakashan and DB Corp were up 8% to 17% on the BSE in intra-day trade on Wednesday.

Shares of media companies, mainly those which are engaged in publishing business, rallied up to 20 per cent on the BSE in early morning trade Wednesday after the government hiked advertisement rates for print media by 25 per cent.

HT Media has surged 17 per cent to Rs 46 on the back of an over five-fold jump in trading volumes. Till 09:32 am, a combined 1.84 million equity shares changed hands on the counter on the BSE and NSE.

Sandesh has zoomed 20% to Rs 890 on the BSE in intra-day trade. A combined 26,295 equity shares changed