Financial Daily from THE HINDU group of publications
Thursday, Apr 07, 2005
Financial Daily from THE HINDU group of publications Thursday, Apr 07, 2005 |
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Markets
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Stock Markets Columns - Ear to the ground NDTV up on diversification talk
THE much talked about stock in the media space is NDTV. Market speculation revolves around the company's plan to diversify into other channels. Indications are that the company would announce the launch of a general entertainment channel shortly. A business channel from the company's stable, NDTV Profit, has already taken off. There is also high interest in the stock by FIIs. As per latest available information, a little over 3 per cent of the company is with FIIs. Market expectations suggest that this is likely to go up significantly. The stock gained over 5.5 per cent on Wednesday. It closed at Rs 186.10, up Rs 9.85 on the BSE. It had touched its 52-week high of Rs. 206 on March 4.
Tie-up talk carries it STRONG market rumours suggest that the courier company Gati is likely to announce a tie-up with TNT. TNT was the first multinational express distribution company to set up direct operations in India. It now claims a market share of 22 per cent in the Indian market. Market speculation suggests that the stock is seeing a run up prior to the announcement. The stock gained 8 per cent on Wednesday and closed at Rs 142.55 on the BSE. It is now inching towards its 52-week high of Rs 148. The movement of the stock in the last few sessions has been on tremendous volumes. It recorded a net turnover of Rs 10.14 lakhs on Wednesday.
Amidst policy planning THE stock of Mid-Day Multimedia Ltd seems to be poised on the FM radio policy. The announcement of the second phase of the policy is expected in the next couple of weeks. Expectations are that players in the private FM market will have to pay the Government a minimum guarantee amount or a share of revenues, whichever is higher. Market speculation is that if the policy is delayed, then the company may be forced to exit its FM operations and shut down the hugely popular Go 92.5 FM. However, the stock gained marginally on Wednesday by Rs 3.45 to close at Rs 74.95.
Veena Venugopal
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