Moser Baer soars on Telugu titles launch

DALAL STREET SPIKES

Moser Baer India was the second-best performer in the A group on Tuesday and rose over 10.4 per cent to Rs 332.7 on volumes of over 8.8 lakh.

The company had announced launch of Telugu titles in the home video market with 101 popular Telugu titles at prices of Rs 28 for VCDs and Rs 34 for DVD's.

Earlier, Moser Baer had launched titles in Tamil, Malayalam, Kannada and Hindi. The company, which is a leading player in the optical storage media segment, has been aggressively focussing on the home video market recently.

The scrip has risen by about 8.55 per cent over the past one month, while it returned 13.18 per cent in the past week. At present, the stock trades at about 20 per cent discount to its 52-week high of Rs 399 reached on February 6, 2007.