Print media stocks advances as govt hikes advt rates

Print media stocks advances as govt hikes advt rates

The Ministry of Information & Broadcasting gave a benefit to print media entities by raising the advt rates for print media by 25-pc.  According to the govt, the move will be of great advantage for media players, particularly to the medium & small newspapers. The new rates will remain in effect from 8th Jan-2019 for a period of 3 years. 

Nifty Media stocks up: Following the news, shares of print media companies spike with Nifty Media index rising more or less one percent, intraday, Wednesday.

Among Nifty media index, shares of HT Media Ltd rose as much as 20% to Rs 46.90  as the biggest gainer, followed by DB Corp Ltd (+9.53%),  Jagran Prakashan Ltd (+.4.68%), Zee Media Corp (+1.67%), among others, during mid market trade.

Among 15 companies compiled in the Nifty media index, 11 stocks were trading in the green during midsession, meantime Sensex, Nifty move higher by 233 pts and 52 pts respectively in trade.

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