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ZEEL’s Q3 performance fails to impress stock market

MUMBAI:  In the aftermath of the fiscal third-quarter performance of Zee Entertainment Enterprises (ZEEL), Dish TV and Zee Media, investor sentiment remained bearish on these counters.

ZEEL, which had lost 5.64 per cent in the previous week, edged lower during the week gone by to settle at Rs 278.35 per share on the BSE.  This despite the company putting up a strong third-quarter performance.

Direct-to-home (DTH) service provider Dish TV settled the week 1.3 per cent lower at Rs 49.70 per share. The company received the cold shoulder from investors after it recorded a net loss of Rs 382.5 million on a revenue of Rs 6.13 billion during the third quarter of fiscal FY14.

Zee Media eased 0.6 per cent to conclude the week at Rs 13.11 per share.

Content provider Balaji Telefilms, which had released its financial performance on Friday, was a surprise on the gainers’ list. The counter settled for the week 5.5 per cent higher at Rs 48.15 per share, even though the company entered into operative losses in the third quarter of fiscal FY14.

Mixed bag for MSOs

For leading multi-system operators (MSOs), it was week of a mixed bag of performance.

While DEN Networks snapped its week of losses, Hathway Cable & Datacom recorded the third consecutive week of losses. Siti Cable consolidated its gains further ahead of its results.

DEN Networks settled the week 1.5 per cent higher at Rs 155.35 per share on the BSE. The counter had been on the losing streak for the past three consecutive weeks.

Hathway Cable & Datacom lost 0.6 per cent before rounding up the week at Rs 256.90 per share.

Siti Cable registered maximum gains in the week gone by. The counter hardened 15.2 per cent before ending the week at Rs 21.20 per share.

Surge in RBNL and RMWL shares due to delisting news

Trading interest remained perky for Reliance Broadcast Network (RBNL)  and Reliance MediaWorks (RMWL) due to their delisting plan.

RBNL, the operator of Big FM and Big Magic, reversed its previous week of losses. The shares advanced 5.3 per cent to settle at Rs 64.25 per share, even as the management set delisting price at Rs 46.47.

RMWL, the second delisting candidate from ADAG, accelerated 10.1 per cent to end the week at Rs 51.10.

News channels continue to suffer

News broadcasters continued to incur losses as lack of favourable factors on these counters encouraged traders to press the sell button.

Losing considerable trading momentum, leading news channel broadcasters such as TV Today Network, NDTV and TV18 Broadcast remained on the losing side.

NDTV bore the brunt among its peers. The broadcaster settled the week four per cent lower at Rs 74.70 per share. In the previous two weeks, the counter had clocked over 16 per cent gain in its share price while scaling to a one-month high level.

TV Today Network suffered losses for the second consecutive week. The counter settled at Rs 102.25 per share, down 2.6 per cent for the week.

TV18 Broadcast settled the week 2.4 per cent lower at Rs 22.00 amid high volumes.

Print companies muster support

Newspaper publishing companies were seen extending gains from the success of well-crafted socially important news coverage.

Several counters rejoiced at the change in fortune and managed to rake in the moolah. With the only exception of HT Media, leading companies in the sector such as DB Corp, Hindustan Media Ventures (HMVL) and Jagran Prakashan consolidated on recent gains.

DB Corp continued to trend higher, aided by strong investor backing. The stock secured gains of 5 per cent in its share price to settle the week at Rs 316.10. This is the second consecutive week of gains for DB Corp.

Jagran Prakashan ended the week marginally higher at Rs 90.15.

HMVL continued to lead the segment with three consecutive weeks of gains. The counter added eight per cent before rounding up the week at Rs 135.05.

For HT Media (Fever FM), it was yet another week of loss. It closed the week 2.2 per cent lighter at Rs 75.70.

Other M&E counters tread cautiously

Among other M&E counters, Info Edge was the biggest sufferer from extensive selling from traders and investors. Its recent gains of over 30 per cent in share price, following the acquisition of Zomato, made it to be an ideal candidate for profit taking.

In the week under review, Info Edge lost eight per cent to settle at Rs 526.10 per share.

Among satellite television broadcasters, Raj Television continued to gain by higher investor participation. The counter advanced 2 per cent for the week before settling at Rs 527.70 per share. It had recorded its 52-week high of Rs 521 on 16 January 2014.

Sun TV ended in the negative zone yet again. The counter eased 0.2 per cent for the week before settling at Rs 356.85.

Prime Focus, the equipment provider to broadcasters, reversed previous week’s losses by adding 3.5 per cent before ending the week at Rs 30.75 per share.

Inox Leisure and PVR were on the winning side, while Eros International Media continued to struggle for the second consecutive week.

Meanwhile, on the broader front, the rate-sensitive counters from auto, banking and capital goods sectors were at the receiving end as market participants chose to stay on the sideline ahead of the Reserve Bank of India’s (RBI) scheduled meeting on 28 January.

In addition, the weak cues from global markets and the sharp fall of the rupee against the US dollar played a part in pulling down the domestic markets.

Both the BSE Sensex and the NSE Nifty were battered brutally on Friday. The Sensex lost 1.12 per cent at 21,133.56 while the Nifty closed 1.24 per cent lower at 6,266.75. Eventually, indices posted their biggest decline since 2 January.

Nevertheless, the indices managed to end in the positive for the week. Sensex gained 0.33 per cent this week while the Nifty rose 0.81 per cent.

Investors were seen to be taking a cautious approach ahead of the RBI’s 28 January meeting, wherein the central bank is expected to leave interest rate unchanged.