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.