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Can LS elections, IPL revive mood in media stocks? Here's what charts say

Analysts believe that Lok Sabha polls and IPL may provide short-term earnings boost, but the overall sentiment depends on how the RIL-Disney deal shapes up or a revival in Zee-Sony India merger talks.

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Rex Cano Mumbai
After performing in line with the NSE Nifty 50 benchmark, up 20 per cent for the calendar year 2023, the Nifty Media index has seen a drastic change in fortune and so far in 2024 has been one of the worst sectoral performers.

The Nifty Media index has plunged nearly 24 per cent so far in 2024, mainly on account of a 50 per cent fall in shares of Zee Entertainment. That apart, PVRInox, Nazara Technologies, NDTV and Sun TV Network are down 17-22 per cent each. In comparison, the Nifty 50 scaled fresh life-time highs, and quotes 1 per cent

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First Published: Mar 18 2024 | 11:52 AM IST

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