The Hindu Business Line : Media stocks on FII radar

AT a time when market players are ignoring stocks from most sectors, they are looking at media stocks actively. According to market talk, many FIIs are being advised by their broking firms to look at these stocks.

Some buying had already started from Wednesday. Stocks that are being advised include Balaji Telefilms, Saregama, TV Today, Sri Adhikari Brokers, and Pritish Nandy Communications.

Dealers said these stocks have not moved in the recent rally since this sector was completely ignored. However, the sector companies have performed well in the last one year but that has not been seen in their stock valuation.

On Wednesday, of Saregama gained 5.92 per cent at Rs 51 on BSE. Pritish Nandy Communications increased by 4.03 per cent at Rs 74.80, K Sera Sera was up 3.78 per cent at Rs 102.90, TV Today was up 2.59 per cent at Rs 108.85 and Sri Adhikari Brothers rose 3.48 per cent at Rs 60.90.

Gains on strong fundamentals

THE Biocon counter was up 6.26 per cent on Wednesday at Rs 523.70 on the BSE with volume of 12.87 lakh shares. On the NSE, it closed at Rs 524.40, up 6.44 per cent, with volume of 31.12 lakh shares.

Dealers said that the rise in price was following a leading domestic broking firm recommending the stock on Tuesday. This firm is bullish on the company's business and sees strong growth in the next couple of years.

Surges on order positions

AFTER being pulled down sharply, the price of Bharat Earth Movers Ltd (BEML) gained sharply on Wednesday.

The stock closed at Rs 141.55, up 10 per cent, on the BSE with volume of 1.72 lakh shares. On the NSE, it closed at Rs 141.60, up 10.19 per cent, with volume of 4.73 lakh shares.

The talk is that some big market players have again started accumulating the shares on the back of strong order positions from Defence and Railways.

The company is also planning joint ventures abroad for making off-road trucks.

Earlier the stock had fallen sharply as several players had bought shares on borrowed funds and sold when the stock price started falling.

Virendra Verma

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