Nifty Media pares early gains to trade flat; TV Today slumps 12%

TV18 Broadcast, DB Corp, and Inox Leisure were also under pressure. Dish TV led the gains.

May 28, 2021 02:05 IST India Infoline News Service

Nifty Media India pared early gains to trade flat on Friday afternoon. The Index was bullish in the morning after a gap-up start at 1,809.55 and rose to day’s high of 1,825.05.

It led the trade at one point in time with metal stocks gaining nearly 2%,  however, the index went out of favour in the afternoon. At around 2.50 pm, Nifty Media was trading near day’s low at 1,791.35 up 0.30 points or 0.02%.

TV Today stock crashed ~12% at Rs312.95 per piece to emerge the biggest laggard. TV18 Broadcast also shed nearly 3% at Rs42.40 per piece to underperform. DB Corp (down 2.20%) and Inox Leisure (down 1.08%) were also under pressure.

Dish TV led the gains at Rs15.90 per piece, up 2.25%. Sun TV and ZEEL also lifted performance with gains of 1.68% and 1.41% respectively. 

PVR gained nearly 0.68% while Netwrok 18 and Jagran Prakashan were also trading in the green.

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