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TV channels outperform movie houses
Zee Telefilms, promoted by NRI Subhash Chandra,
is the lone TV channel- drop in share


NEW DELHI,JUNE 15, 2005
PTI

Stocks of television channels, including NDTV and TV18, have performed better on the bourses than some of their moviemaking counterparts like Balaji Telefilms, Padmalaya Telefilms and Cinevistas Limited.

Stocks of media companies, including TV channels, filmmakers and media content providers, have had a mixed run on the bourses since the start of the year, with only seven companies outperforming the Sensex out of 22 surveyed.

Media stocks have been a mixed bag on the bourses due to a variety of factors such as the riskier nature of the business, increased competition, large number of films and serials released every year and rapidly changing viewer preferences.

The stocks gave returns in a wide range - as low as -57.54 per cent to as high as 126.84 per cent. Two of the seven companies which outperformed the sensex were TV channels - NDTV and TV18.

Zee Telefilms, promoted by NRI Subhash Chandra, is the lone TV channel which has shown a drop in share value with its stock falling 13.37 per cent from Rs 172.05 to Rs 149.05.

The biggest gainer among media stocks was Goldmines Media Limited which saw its stock rocket 126.84 per cent from Rs 4.88 on January 3, 2005 to Rs 11.07 on June 10, 2005.

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