Foreign Brokerages raise media stocks target price
Media Stocks Update: The media companies reported good returns in ad revenue after Covid-19. As of the news, Foreign Brokerages raise the media stocks target price. Moreover, they select marked stocks only.
According to the news, market experts believe that advertising revenue will be recovered in the second half of the current financial year. Moreover, the ad income of Zee will improve up to 13 percent on a year-on-year base in the financial year 2022 and will improve 15 percent in FY23.
Furthermore, the subscription revenue for top broadcast firms will also continue to grow in further days, said by the foreign brokerages.
As of the news, Zee reports an ad income of around 90 percent of pre-COVID-19.
Media stocks index
On Monday trade, the Media stocks index faced a 4.82 percent loss at 1,553.00 level. Moreover, DB Corp., Sun TV, Zee, Jagran, and Dish Tv shares traded in the red.
Stock Market September 21st:
On Monday, both Sensex and Nifty traded in a bearish trend in the stock market. At the end of the market, the BSE Sensex dropped 811.68 points with a 2.09% decrease and reached a 38,034.14 level. Besides, the Nifty decreased 250.55 points with a 2.21% decrease and reached the 11,250.55 level.
On the other side, the number of coronavirus cases in India reached 54,87,580 as of Monday, September 21st, and deaths reached 87,882.
In the border markets, the S&P BSE Small-Cap reported a bearish trend in the stock market. It declined 552.64 points with a 3.61% decrease and reached the 14,747.34 level. The S&P BSE Mid-Cap dropped 516.21 points with a 3.43% decrease and reached a 14,531.59 level. While the Nifty Bank drops 740.95 points with a 3.36% drop and reached the 21,290.10 level.