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Individually, New Delhi Television (NDTV), Dish TV, Sun TV Network, and Zee Entertainment outperformed the indices by surging between 18 per cent and 95.5 per cent
Amendments to the new tariff order (NTO 2.0), coupled with sector consolidation, will likely keep broadcasting stocks on an uptrend in the near-term, analysts said.
Besides, potential recovery in ad-spends from the second half of the current financial year (H2FY23), as raw material cost softens for most advertisers, will likely aid financials in quarters ahead.
Over the past six months, the Nifty Media index has rallied 14 per cent on the National Stock Exchange (NSE). In comparison, the benchmark Nifty50 index has risen 19 per cent during the period, ACE Equity data shows.
First Published: Dec 15 2022 | 12:58 PM IST