 "Media shares rally: Entertainment Network surges 20%")
Shares of the companies engaged in broadcasting and cable TV business have rallied by up to 20% on BSE in late noon trade on media reports that Cabinet cleared Phase III auction of FM Radio.
Entertainment Network (India), Sun TV Network, TV18 Broadcast, TV Today Network and Zee Entertainment Enterprises have rallied between 5-20% on the BSE.
Entertainment Network India, which owns Radio Mirchi, is locked in upper circuit of 20% at Rs 614 on BSE. Till 1530, a combined 573,532 shares changed hands on the counter against an average sub 100,000 shares were traded daily in past two weeks. There are pending buy orders for around 20,000 shares on BSE and NSE.
Entertainment Network (India), Sun TV Network, TV18 Broadcast, TV Today Network and Zee Entertainment Enterprises have rallied between 5-20% on the BSE.
Entertainment Network India, which owns Radio Mirchi, is locked in upper circuit of 20% at Rs 614 on BSE. Till 1530, a combined 573,532 shares changed hands on the counter against an average sub 100,000 shares were traded daily in past two weeks. There are pending buy orders for around 20,000 shares on BSE and NSE.