Nifty Media index sinks over 2.5%; DB Corp biggest loser post Q4 earnings

TV18 Broadcast was also over 4.5% down. The Index bore an all-red look with Jagran Prakashan having less losses compared to others in the sector.

Jun 18, 2021 01:06 IST India Infoline News Service

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The Nifty Media sank over 2.5% tracking overall bearish markets on Friday. DB Corp which announced the quarterly earnings on Thursday sank over 5.5% while TV18 Broadcast was also over 4.5% down.

The Index bore an all-red look with Jagran Prakashan having fewer losses compared to the other nine companies on Nifty Media. At around 1.10 PM, Nifty Media was trading at 1,818.40 down 47.55 points or 2.55%, touching a low of 1,772.55 during intraday trade on Friday after opening marginally higher at 1,876.80 and touching a high of 1,884.35 early on Friday.

Meanwhile, BSE Sensex was trading at 52,029.93 down 293.4 points or 0.56% and Nifty50 at 15,592.50 down 98.90 points or 0.63%.

DB Corp sank 5.6% at Rs106.85 per piece. The company's consolidated Profit After Tax (PAT) for Q4FY21 grew by 158% yoy at Rs61.9cr as against Rs24.1cr. Total Revenue came in at Rs460.1cr as against Rs489.8cr. 

TV18 Baroadcat shed 4.66% at Rs41.90 per piece. Network18, ZEEL, PVR, Dish TV and TV Today also declined in the range of 2.76% to 2%. Inox Leisure and Sun TV also lost 1.8% and 1.3% respectively. 

Jagran was the least affected in the sector, yet trading 1.28% down. 

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