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Tag: Pritish Nandy Communication

  • Balaji apart, book built media IPOs continue stumbling run

    Balaji apart, book built media IPOs continue stumbling run

    Sporadic spurts apart, media firms’ IPOs made through the book building route between 1999-00 and 2001-2002 have not exactly set the stock exchange ablaze.

    Of the seven media IPOs that made their appearance in the period, only one issue – that of Balaji Telefilms is being currently traded above its issue price. Balaji Telefilms tops the list of three gainers among the total of 19 IPOs that came out during the period, registering an appreciation of 269.23 per cent since listing date 22 November, 2000. The stock is being currently traded at Rs 480 compared with the issue price of Rs 130.

    For the others, its been an uphill task all the way, with the television and media industries in a churn for over the last one year. Cinevista Communications is currently traded at a 84.08 per cent discount, while Pritish Nandy Communications is being traded at a 77.68 per cent discount. Together, the aggregate loss in terms of investor value has been nearly 30 per cent of total resource mobilisation, say analysts.

    How they fare

    Company
    Issue
    price (Rs)
    Current close(Rs)
    % change
    Cinevista Communications
    300
    47.75
    -84.08
    Pritish Nandy Communications
    155
    34.60
    -77.68
    Mid day Multimedia
    70
    26.65
    -61.93
    Tips Industries
    325
    141.25
    -56.54
    Mukta Arts
    165
    85.50
    -48.18
    Creative Eye
    50
    28.25
    -43.50
    Balaji Telefilms
    130
    480.00
    269.23

    Source: Business Standard

  • Markets plunge nearly 3%, media stocks hammered

    Markets plunge nearly 3%, media stocks hammered

    The post-budget blues of India’s stock exchanges continued today with Mumbai Stock exchange’s Sensex breaching the 3800-mark as banks entered the fray to sell the shares given to them as collaterals against loans. The last hour saw panic selling in tech and media counters that took the Sensex to a four-month low of 3762.

     

    This is the third major fall since last Monday. Last Thursday also saw a plunge on fears of a payments crisis in the Calcutta and Ahmedabad stock exchanges.

     

    Media stocks were hammered drastically till the end of the day wherein Hinduja TMT (down 14%), SaReGaMa (down 11%), Sri Adhikari, Jain Studios (both down 13%), GV Films, Cinevista, ETC Networks, Padmalaya Tele, Balaji Tele, Pritish Nandy Communication, Creative Eye hit the 8% lower circuit. There was heavy selling pressure in TV 18 counters and the scrip finally closed at Rs140, down Rs5 (earlier up 10%). However, Tips was the only major gainer among the media stocks.

     

    Zee Telefilms, clocked the top volumes on BSE and NSE at 10 million and 14.9 million shares respectively.

     

    After remaining in the positive for most part of the trading session, Zee drifted into the negative territory. The scrip ended at Rs 114, down 2.44 per cent.

     

    The Sensex lost 182 points from the intra-day high of 3931 and finally closed at 3768, down by 114 points (2.9%).

     

    In an effort to curb volatility, the SEBI had imposed additional margins on net outstanding to 25% from 10%. As a result, the total volumes on BSE and NSE have declined sharply to 84 million and 105 million shares respectively compared to their normal volumes.

     

    The NSE Nifty Index closed at 1197.95, down by 56.80 points (-4.5%) and the CSE Index closed at 125.23, down by 4.2 points (-3.2%).

     

    And with no immediate relief expected at the NASDAQ tech-laded index, it seems that the worst is still to come.