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Manic Monday: Media scrips join Sensex free fall

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MUMBAI: It was truly a Manic Monday for Dalal Street. For the second time in the indices’ history (the first being on 17 May, 2004), trading was suspended at the BSE this morning. The Sensex fell by a whopping 1111.70 points in the morning trade below 10,000 to settle at 9,826.91.

However, it recovered substantially to close at 10,482 down 457 points. The NSE Nifty, on the other hand, closed at 3081 down 166 points. Media stocks, like the predominant market sentiment, were on a downslide.

In order to avoid pandemonium in the market, Sebi chief M Damodaran asked people not to go by rumours but to take informed decisions. According to him, Sebi was in touch with the RBI and there were no liquidity problems.

Among the entertainment and media stocks, one company that managed to beat the heat on the bourses was Times Group company Entertainment Network India Ltd (ENIL), which operates the Radio Mirchi brand. The company’s stocks opened at Rs 239.85 and closed higher at Rs 241.10, thus registering a marginal gain of 0.63 per cent.

The biggest loser today was Prannoy Roy’s NDTV Ltd. The stocks of NDTV opened at Rs 220 today and closed at Rs 190, weaker by 13.64 per cent. Mid-Day Multimedia, on the other hand, recorded a drop of 11.82 per cent and closed at Rs 61.15 (previous close Rs 69.35).

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Pritish Nandy Communications shed 10.14 per cent to close at Rs 45.65 from its previous close of Rs 50.80. Hinduja TMT; which on Friday 19 May took the deepest plunge, going down by Rs 48.30 to close at Rs Rs 701.75; today dropped 3.10 per cent to close at Rs 680.

Sahara One Media and Entertainment Ltd and BAG Films both shed around eight per cent in today’s bloodbath. TV Today Network was weaker by 7.76 per cent to close at Rs 81.45 at the end of the day’s trade. K Sera Sera also lost 7.45 per cent and ended the day at Rs 36.05. Television Eighteen shed 5.18 per cent (down Rs 32.95 from yesterday closing at Rs 603.20).

Company
Last Traded Price
Previous close
Change
Per cent change
Adlabs Films
Rs 267.30
Rs 271.45
Rs -4.15
-1.53
BAG Films
Rs 9.63
Rs 10.54
Rs -0.91
-8.63
Balaji Telefilms
Rs 139.95
Rs 147.00
Rs -7.05
-4.80
Cinevistaas
Rs 21.45
Rs 22.55
Rs -1.10
-4.88
ENIL
Rs 241.10
Rs 239.60
Rs 1.50
0.63
ETC Networks
Rs 37.65
Rs 38.50
Rs -0.85
-2.21
Galaxy Ent
Rs 251.15
Rs 260.95
Rs -9.80
-3.76
Gemini Comm
Rs 420.00
Rs 433.30
Rs -13.30
-3.07
Hinduja TMT
Rs 680.00
Rs 701.75
Rs -21.75
-3.10
Jain Studios
Rs 27.60
Rs 29.00
Rs -1.40
-4.83
K Sera Sera
Rs 36.05
Rs 38.95
Rs -2.90
-7.45
Mid-Day Multimedia
Rs 61.15
Rs 69.35
Rs -8.20
-11.82
Mukta Arts
Rs 42.95
Rs 45.20
Rs -2.25
-4.98
NDTV Ltd
Rs 190.00
Rs 220.00
Rs -30.00
-13.64
Pritish Nandy
Rs 45.65
Rs 50.80
Rs -5.15
-10.14
Sahara One Media
Rs 324.00
Rs 354.00
Rs -30.00
-8.47
Saregama
Rs 241.65
Rs 254.05
Rs -12.40
-4.88
Sun TV
Rs 1159.55
Rs 1192.35
Rs -32.80
-2.75
TV Eighteen
Rs 603.20
Rs 636.15
Rs -32.95
5.18
TV Today
Rs 81.45
Rs 88.30
Rs -6.85
-7.76
UTV
Rs 176.00
Rs 183.55
Rs -7.55
-4.11
Zee Telefilms
Rs 228.20
Rs 229.60
Rs -1.40
-0.61

In the vicinity of the one – five per cent loss incurred by companies were the likes of Mukta Arts (-4.98 per cent), Cinevistaas (-4.88 per cent), Saregama (-4.88 per cent), Balaji Telefilms (-4.80 per cent), Jain Studios (-4.83 per cent), UTV (-4.11 per cent), Sun TV (-2.75 per cent), ETC Networks (-2.21 per cent), Adlabs Films (-1.53 per cent).

Media major Zee Telefilms had a relatively quiet day at the bourses, closing at Rs 228.20 down a minimal -0.61 per cent from yesterday’s last traded price of Rs 229.60. On the Nifty, meanwhile, Zee ended the day at Rs 227.40, down 1.22 per cent from yesterday’s close of Rs 230.20.

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The big question on every market punter’s mind at the moment seems of course to be just how low will low go. When will the “market correction” bottom out is something no one seems to be able to hazard a guess on currently.

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Barc forensic audit in TRP row awaits as Twenty-Four probe gathers pace

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KERALA: A forensic audit commissioned by the Broadcast Audience Research Council (BARC) India has emerged as the centrepiece of the government’s response to fresh allegations of television rating point manipulation involving a regional news channel in Kerala, with both the audit findings and a parallel police investigation still awaited.

Replying to a query in the Lok Sabha, minister of state for information and broadcasting L Murugan, said Barc had appointed an independent agency to conduct a forensic probe into the conduct of senior personnel allegedly linked to the case.

The move followed media reports claiming that a Barc employee had accepted bribes to manipulate viewership data in favour of a regional television news channel.

“The report from BARC is still awaited,” Murugan told Parliament, signalling that the forensic exercise remains ongoing.

Industry specialists say forensic audits are crucial in alleged TRP fraud cases, as they examine internal controls, data access trails, panel household integrity, staff communications and financial transactions. The outcome could determine whether the alleged manipulation was an isolated breach or a deeper systemic weakness in India’s television measurement framework.

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Running alongside the audit, the Kerala Police has formed a special investigation team to probe the allegations. The ministry has sought a preliminary report from the state’s director general of police, including details of action taken on the first information report. That report, too, is yet to be submitted.

The episode has revived long-standing concerns over the vulnerability of India’s TRP system, particularly in regional news markets where competition for ratings is fierce and advertising revenues hinge on weekly viewership rankings.

India’s sole television audience measurement body Barc, has faced scrutiny before, most notably during the nationwide TRP controversy involving news channels in 2020. While tighter compliance norms were introduced in the aftermath, the latest allegations suggest enforcement challenges may persist.

On regulatory consequences, the government said any punitive action against television channels, including suspension or cancellation of uplinking and downlinking permissions, would be governed by the Policy Guidelines for Uplinking and Downlinking of Television Channels issued in November 2022, and would depend on investigation outcomes and due process.

The ministry also pointed to ongoing efforts to overhaul the ratings ecosystem. Television measurement continues to be regulated under the Policy Guidelines for Television Rating Agencies, 2014. Draft amendments were released for public consultation in July 2025, followed by a revised version in November 2025, aimed at tightening audit mechanisms and improving transparency and representativeness.

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In November 2025, Barc said it had taken note of allegations aired by Malayalam news channel Twenty-Four, which linked an internal employee to irregularities in audience measurement. The council said it had engaged a “reputed independent agency” to conduct a comprehensive forensic audit, underscoring the seriousness of the claims.

The ratings system sits at the heart of India’s broadcast advertising economy, shaping billions of rupees in annual ad spends. With trust in audience data once again under strain, advertisers, broadcasters and regulators are closely watching the outcome of the investigations.

Barc has urged industry stakeholders and media organisations to exercise restraint while the probe is underway, calling for an end to “unverified or speculatory claims” and reiterating its commitment to integrity and accountability.

Until the forensic audit and police findings are submitted and reviewed, the government said it would refrain from drawing conclusions.

 

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Rajat Sharma defamation row: Delhi court summons Congress leaders Ragini Nayak, Pawan Khera and Jairam Ramesh

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NEW DELHI: A Delhi court has ordered the summoning of senior Congress leaders Ragini Nayak, Pawan Khera and Jairam Ramesh in a criminal case filed by veteran journalist Rajat Sharma, sharpening a legal battle over alleged defamation and doctored digital content.

The order was passed on Monday by Devanshi Janmeja, judicial magistrate first class at Saket Courts, after the court found prima facie grounds to proceed under multiple sections of the Indian Penal Code, including forgery, creation of false electronic records and defamation.

Sharma, chairman and editor-in-chief of India TV, had approached the court over allegations made in June 2024 that he had used derogatory language against Congress spokesperson Ragini Nayak during a live television debate. He denied the charge, claiming it was fuelled by a manipulated video circulated online.

According to the complaint, a clipped version of the broadcast carrying superimposed captions, which were not part of the original programme, was first shared on social media platform X by Nayak and later amplified through retweets and public statements by Khera and Ramesh. Sharma said the viral spread caused serious reputational harm and personal distress.

The court took note of forensic science laboratory findings that pointed to visible post-production alterations in the video, including added titles and captions. It also cited witness testimonies from those present during the live broadcast, who stated that no abusive or objectionable language had been used.

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In a related civil matter, the Delhi High Court had earlier observed a prima facie absence of abusive remarks and directed the removal of the disputed social media posts.

With criminal proceedings now set in motion, the case adds to mounting scrutiny around political messaging, digital manipulation and accountability on social media platforms.

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Mukesh Ambani, Larry Fink come together for CNBC-TV18 exclusive

Reliance and BlackRock chiefs map the future of investing as global capital eyes India

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MUMBAI: India’s capital story takes centre stage today as Mukesh Ambani and Larry Fink sit down for a rare joint television conversation, bringing together two of the most powerful voices in global business at a moment of economic churn and opportunity.

The Reliance Industries chief and the BlackRock boss will speak with Shereen Bhan, managing editor of CNBC-TV18, in an exclusive interaction airing from 3:00 pm on February 4. The timing is deliberate. Geopolitics are tense, technology is disruptive and capital is choosier. India, meanwhile, is pitching itself as a long-term bet.

The pairing is symbolic. Reliance straddles energy transition, digital infrastructure and consumer growth in the world’s fastest-expanding major economy. BlackRock, the world’s largest asset manager, oversees more than $14 tn in assets and sits at the nerve centre of global capital flows. When the two talk, markets tend to listen.

Fink’s appearance marks his third India visit, a signal of the country’s rising strategic weight for the Wall Street-listed firm, which carries a market value above $177 bn. His earlier 2023 trips included an October stop in New Delhi, where he met both Ambani and Narendra Modi.

India is now central to BlackRock’s expansion plans, notably through its joint venture with Jio Financial Services. Announced in July 2023, the 50:50 venture, JioBlackRock, commits up to $150 mn each from the partners to build a digital-first asset-management platform aimed at India’s swelling investor class.

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The backdrop is robust. BlackRock ended 2025 with record assets under management of $14.04 tn, helped by $698 bn in net inflows, including $342 bn in the fourth quarter alone. Scale gives Fink both heft and a long lens on where money is moving.

He has been openly bullish on India. At the Saudi-US Investment Summit in Riyadh last year, Fink argued that the “fog of global uncertainty is lifting”, with capital returning to dynamic markets such as India, drawn by reforms, demographics and durable return potential.

Expect the conversation to range beyond balance sheets, into technology’s role in finance, access to capital and the mechanics of sustainable growth in a fracturing world order. For investors and policymakers alike, it is a snapshot of how big money is thinking about India.

At a time when capital is cautious and growth is contested, India wants to be the exception. When Ambani and Fink share a stage, it is less a chat and more a signal. The world’s money is still looking for its next big story, and India intends to be it.

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