Stock and Roll: A good week for media stocks

Media stocks witnessed a better performance this week, with notable gains across key players. 

Zee Entertainment Enterprises Ltd (ZEEL) opened at ₹92.87 on Monday and saw a sharp rally, touching a high of ₹104.20 before closing the week at the same level. However, the stock also hit its lowest point of ₹89.84 on Monday itself, indicating some early-week volatility before the uptrend.

Network18 also had an impressive run, starting the week at ₹41.13 and reaching a high of ₹47 before closing at ₹45.40. The stock dipped to a low of ₹39.87 earlier in the week but rebounded strongly, reflecting investor interest. 

Meanwhile, Zee Media Corporation Ltd (ZMCL), opened at ₹13.08 and saw fluctuations, hitting a low of ₹11.93 on Tuesday before bouncing back to close at ₹14.44, just shy of its weekly high of ₹14.46.

TV Today Network showed steady growth throughout the week. Opening at ₹155.89, the stock climbed to a high of ₹168.39 on Friday, marking a strong finish at ₹163.80. 

Similarly, NDTV, another key media stock, opened at ₹118.60 and touched its highest point of ₹124 on Friday, eventually closing at ₹122.49. Its lowest level of ₹112.28 earlier in the week suggested some mid-week corrections before an upward momentum.

Print media stocks also had a positive run. 

HT Media started at ₹17.90, dipped to ₹17.06 during the week, but recovered to close at ₹19 after touching a high of ₹19.24. 

Jagran Prakashan followed a similar trajectory, opening at ₹67.65 and touching a weekly high of ₹72.30 before settling at ₹71.75. The stock’s lowest point was ₹65.95, indicating strong support at lower levels.

Overall, the media sector exhibited resilience, with most stocks closing near their weekly highs.