Entertainment stocks such as PVR, Inox Leisure, Tips Industries and Zee Entertainment have been gaining sharply on the bourses of late.
According to market participants, stocks in the media and entertainment segment are attracting investor’s interest because of the strong box-office performance of films such as ‘Taare Zameen Par’ and ‘Welcome’. While Taare Zameen Par is co-produced by PVR, Welcome is being distributed by the Network 18 group.
Zee Entertainment Enterprises is rallying because investors are betting that its newly launched channel Zee Next would increase viewership resulting in additional advertising revenue.
These news apart, stocks in the media and entertainment sector continue to be fancied by fund managers and HNIs because this sector is perceived to be at a nascent stage. Brokerage houses have also started recommending this sector to their clients with revised upward targets, say market sources.
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