Home >> Media-Others >> Article

Media shares plunge to 52-week lows

24-March-2004
Font Size   16
Media shares plunge to 52-week lows

All high-profile media stocks with the exception of Zee Telefilms plummeted to 52-week lows today as markets fretted over the string of flop films, bad musical videos and the fate of never ending TV serials.

As many as 12 media stocks hit a new 52-week low on the Bombay stock Exchange (BSE) today. On the top of that, as many as seven media stocks have sunk to their all-time lows. Surprisingly, three months ago, all these stocks were traded at 52-week highs.

The stocks that sank to lifetime lows include BAG Films, GDR Media, Mukta Arts, Pentamedia Graphics, Tips Industries and Vas Animation & Entertainment touch lifetime low value at BSE, while ETC Networks, Filmcity Media, Hathway Bhawani Cabletele and Padmalaya Telefilms are currently traded at one-year lows.

Mukta Arts touched an all-time low of Rs 41.10 , Tips Industries touched Rs 26.60, GDR Media Rs 0.52, Pentamedia Graphics Rs 5.67 and TV Today Rs 119.55 on the BSE.

Mukta Arts, the Subhash Ghai-promoted company, entered the market in the ICE boom of 2000 with an offer price of Rs 165 per share. It is currently traded at a 75 per cent discount to the issue price.

The Torani Brothers-promoted Tips Industries also raised money in the IPO markets at a huge premium at Rs 325 per share only to be quoted at a 92 per cent discount to its issue price at BSE.

Padmalaya Telefilms, a south-based film production company touched a one year low of Rs 47.15 and ETC Network touch a 52-week low of Rs 32.55 today at BSE.

BAG Films which came out recently with a public issue at Rs 10 per share currently discounted at 50 per cent at Rs 5.29.

In the last two months, the total market capitalisation of media companies has declined 30 per cent from Rs 11,880 crore to Rs 8,488 crore.

Tags

Varun Raina, Marketing Manager, Airbnb India speaks to exchange4media about the successful #LiveThere campaign and how Bollywood helps them connect with its young consumer

Tim Castree is all praises for his team in India and trusts it to be a result of “an excellent execution of agency’s global strategy” headed by Kartik Sharma

Siddharth Dabhade says Criteo’s technology allows brands to engage with shoppers, create relevant experience on retail apps, thereby driving sales and profits

Shantanu Gangane says OTT platform Viu plans around 20+ originals and is all set to enter the Tamil market with a mix of syndicated and original content

right
left
OFF THE CUFF HAS JOURNALIST ARUN SHOURIE IN CONVERSATION WITH SHEKHAR GUPTA IN MUMBAI IAA HOSTS FIRST INDIAA REGIONAL AWARDS (TELUGU) IN HYDERABAD BREAK THE CEILING TOUCH THE SKY 2018 SEES OVERWHELMING INDUSTRY PARTICIPATION 10TH EDITION OF ABC EUREKA AWARDS IN MUMBAI CELEBRATES WORK OF PARTNER AGENCIES EMINENT JURY PICKS LOUDEST’S 100 MOST POWERFUL INDIAN MUSIC BUSINESS LEADERS MODE LOFT BY SABGROUP LAUNCHES SIGNATURE MENSWEAR POWER DRESSING CLOTHING LINE TOP MARKETERS DISCUSS ART AND SCIENCE OF EFFECTIVE LISTENING @PITCH CMO SUMMIT 2018, DELHI THIRD SEASON OF ‘INDIA’S TOP DIGITAL PLANNERS’ RECOGNIZES EXCELLENCE IN THE DIGITAL INDUSTRY WOMEN ECONOMIC FORUM 2018 SEES DISTINGUISHED GLOBAL PERSONALITIES IN ATTENDANCE PEPPER CREATIVE AWARDS 2018 RECOGNIZE THE BEST IN ADVERTISING IN SOUTH INDIA RADIO CITY’S POWER OF RADIO MEET HOSTS TOP ADVERTISING INDUSTRY LEADERS TOP INDUSTRY PERSONALITIES ATTEND ZOOM-MYNTRA EVENING TO CELEBRATE THEIR PARTNERSHIP LEADING MARKETERS, EXPERTS SHARE INSIGHTS ON DIGITAL TRANSFORMATION @ADOBE SYMPOSIUM IN MUMBAI NICKELODEON TRADE PARTY SEES MARKETING INDUSTRY LEADERS AND THEIR FAMILIES IN ATTENDANCE GOLDEN MIKES RADIO ADVERTISING AWARDS 2018 RECOGNIZE INDUSTRY’S MOST DESERVING ACHIEVERS AIMA MANAGING INDIA AWARDS HONOUR THE BEST IN THE INDUSTRY BW BUSINESSWORLD’S GREAT INDIA DEBATE BRINGS TOGETHER INTELLECTUALS ACROSS INDUSTRY SECTORS BW BUSINESSWORLD SMART CITIES CONCLAVE PATNA 2018 SEES EMINENT INDUSTRY LEADERS IN ATTENDANCE EMINENT JURY PICKS WINNERS OF GOLDEN MIKES RADIO ADVERTISING AWARDS MADDYS 2018 SEE TOP ADVERTISING AND MARKETING INDUSTRY LEADERS IN ATTENDANCE

Radio Mirchi maintained its top spot while Fever FM replaced Big FM at the second spot in Kolkata

Singh explains why marketers should focus more on maintaining the core essence of a brand and not just innovations

Venkat brings with him over 20 years of extensive experience of working in media, creative, cultural and knowledge industries on several international projects in over 30 countries.