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Media counters such as HT Media, Sri Adhikari, Mukta Arts, and Crest Animation have seen a significant appreciation of 20-42 per cent month-on-month on the bourses in the recent past.

As per market talk, there is front-running in these stocks on expectations of a $100-200 million FII media fund being set up shortly.

While HT Media closed at Rs 532.65, up 20 per cent month-on-month, Crest ended at Rs 104.90, up 42 per cent, Mukta Arts closed at Rs 49, up 38 per cent, and Sri Adhikari at Rs 16.38, up 30 per cent, on the BSE.

Deeptha Rajkumar

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