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Entertainment scrips script market blockbusters

11-December-2000
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Entertainment scrips script market blockbusters

Growing demand for television software and content providers in the entertainment market has made their stocks a favourable lot on the bourses. Share prices of such companies, particularly those, who are purely into the development of TV software and content, have gained sharply over the past few weeks on the back of growing volumes.

Stocks of Balaji Telefilms, Mukta Arts, Cinevista Communications and Padmalaya Telefilms have gained anything between 30 to 90 per cent in a month. The growing popularity of these stocks has been on account of the better prospects of the television software and content providing companies due to the growing number of channels going on air, according to an analyst with a Mumbai-based securities firm.

There are several programmes currently being aired successfully on different TV channels. Balaji Telefilms, has a few successful serials to its credit which explains why the scrip has been doing well on the bourses, feel analysts.

Balaji’s stock price has been gaining almost consistently ever since it got listed on the bourses. From Rs 153 on the day of listing on November 22, it has flared up to Rs 288 on the Bombay Stock Exchange, appreciating by around 88 per cent in just two weeks.

Besides Balaji Telefilms, other major gainers were Mukta Arts (43 per cent appreciation in a month), Cinevista Communications (31 per cent) and Padmalaya Telefilms (31 per cent).

The spurt in the stock prices was accompanied by higher volumes. For instance, Balaji Telefilms volumes has grown sharply from 2.75 lakh shares on November 7 to 4.5 lakh shares last Friday.

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