Media & entertainment stocks tumble

MUMBAI: On another bloody day at the stock markets only a few entertainment stocks bucked the trend. Bag Films on the back of restructuring news and new partnerships was handsomely up by 4.95 per cent having ended the day at Rs 27.55 close to its all time high of Rs 29.


Shree Ashtavinayak Cine Vision Ltd was also in the green up by 4.38 per cent to end the day at Rs 155.95. Other stocks that managed to stay afloat were Galaxy Multimedia up by 4.92 per cent, Pyramid Saimira up by 2.15 per cent and HT Media which was up marginally by 1.21 per cent.


Most media stocks were in the red, from the newly listed GBN, which ended the day down by 7.81 per cent at Rs 552.55 followed by the TV Today Network, which was down 4.27 per cent. NDTV and TV 18 were also down by 3.69 per cent and 3.24 per cent respectively. Zee News also remained in the red by 2.44 per cent.


Other entertainment and media stocks that flowed with the bourses and ended the day in the negative were Cinemax India down 5.36 per cent, Adlabs Films (4.59 per cent), Mukta Arts (4.23 per cent), GV Films (4.88 per cent), K Sera Sera (2.58 per cent) and Tips Industries (2.51 per cent).


Although UTV and PNC both were down marginally, there should be reasonable action in these stocks on the eve of their films Hattrick and Just Married releasing this Friday.