The Hindu Business Line : Entertainment stocks sizzle

Stocks of Creative Eye and Balaji Telefilms has moved up in the last couple of days. According to marketmen, apart from the general bullish trend towards media segment, investors are betting on these counters as they are production partners of NDTV Imagine, a new channel from NDTV group. The 24-hour Hindi entertainment channel will have a line-up of programming that includes family soaps, period dramas and music-based shows. “We will initially start with around 12 sh ows, eight of which we have unveiled today. We will have a Balaji show sometime in April,” said the NDTV Imagine CEO, Mr Sameer Nair, at the time of launching NDTV Imagine a couple of days ago.

Besides NDTV Imagine, former Star India CEO, Mr Peter Mukerjea’s entertainment channels are likely to be launched soon through two companies – INX Media Pvt Ltd and INX News Pvt Ltd. The full bouquet of channels will include a Hindi entertainment channel, an English news channel, various entertainment channels in regional languages, a music channel and city-specific channels. According to market sources, the prime beneficiaries with the addition of new channels, particularly entertainment ones, are production companies such as Balaji Telefilms and Creative Eye, as their creative offerings would now have two additional outlets fetching extra revenues.

While Balaji Telefilms jumped 9.46 per cent at Rs 332.80 on the BSE, Creative Eye moved up 4.91 per cent at Rs 21.35. Trading volumes also surged for both the counters with the former witnessing volume of 91,000 shares against its two-week average figure of 77,034 shares. Creative Eyes’ volume jumped to about 60,000 shares against its two-week average of 40,000 shares.

K.S. Badri Narayanan

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