Why Media and Realty Stocks Made Big Gains Yesterday

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Why Media and Realty Stocks Made Big Gains Yesterday
Credit: © Reuters.

By Puneet Sikka

Investing.com -- Nifty Media index rallied by 13.6% and Nifty Realty by 8.5% yesterday despite the broader market index Nifty ended up making a small loss. So what drove these indices?

Nifty Media was clearly helped by the 32% jump in Zee Entertainment (NS: ZEE ) stock yesterday. Zee Entertainment and Sony Pictures Network signed a merger deal, which is great news for Zee. This is because before the merger, Zee Entertainment had been struggling financially and its two largest shareholders expressed non-confidence with the management, which includes its CEO and MD -- Punit Goenka. Interestingly, after the merger, Punit Goenka will be the CEO and MD of the new entity.

The spurt in Zee's stock also rubbed on to other media stocks with Inox Leisure (NS: INOL ) and TV18 Broadcast (NS: TVEB ) also rallying by 11% and 7% respectively.

Nifty Realty, on the other hand, is making smart gains and closed 8.5% higher yesterday. It consolidated its gains of 3.6% that it made on Tuesday. Godrej Properties (NS: GODR ) and DLF (NS: DLF ) made double-digit gains yesterday. Accountability in the Indian real estate market due to RERA and the prevailing low-interest rates scenario are some of the driving factors behind this surge.

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  • Nitin Kumar @Nitin Kumar
    Look like today slipped from the really
    Like 0
  • Nikhil Khedekar @Nikhil Khedekar
    The ZEE news was already factored in when the price increased by 60%+. So not sure how much more will the stock rally if one enters at this price. Unless there is some amount of correction for a decent entry.
    Like 0
  • pritam bhalwane @pritam bhalwane
    till where prices collapse of soyabean in Maharashtra
    Like 0
  • Sandeep Narasimhan @Sandeep Narasimhan
    The reason why media stock and Inox rallied are quite elaborately explained. wow. Reality stocks always moves when any Metro City authorites makes supportive decision like Bengaluru did yesterday and Inox and PVR moved due to Mumbai multiplex new announcement.
    Like 0

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