Moser Baer: Satellite rush

STOCKS IN THE NEWS

The stock has gained over 11 per cent from Rs 90.55 on August 1 to Rs 100.90 on Friday’s closing on news that Studio 18 will be acquiring satellite rights of 35 films from the company.

The company reported over three-fold rise in combined turnover. A total of 24 million equity shares changed hands last week compared to 7.28 million the previous week.

Studio 18 is a part of Viacom 18 Media, which recently launched the new Hindi general entertainment channel, Colors. On July 31, the board of directors had decided to acquire 51 per cent equity stake for Rs 1 crore in Lumen Engineering.

 

The company had posted a loss of Rs 103.98 crore for the quarter ended June 30, 2008, compared with a net profit of Rs 9.64 crore in the year-ago period. Total income has decreased from Rs 500.28 crore to Rs 496.88 crore during the June 2008 quarter.