CNX Media was also up over 1 percent after Zee Entertainment jumped 2.88 percent followed by TV18 Broadcast while Macquarie has maintained an outperform rating on Zee Entertainment with a target of Rs 615 per share.
The Indian benchmark indices on Wednesday morning were trading on a positive note with the Nifty up 31.85 points or 0.27 percent while the Sensex gained 101 points at 33580.
Nifty realty was outperforming with the index gaining over 1 percent led by Indiabulls Real Estate and Prestige Estates.
CNX Media was also up over 1 percent after Zee Entertainment jumped 2.88 percent followed by TV18 Broadcast.
From the Nifty, the stocks that gained the most were Zee Entertainment which was up over 3 percent while Aani Ports was up 2 percent. Mahindra & Mahindra, HDFC, Ambuja Cements were the other top gainers.
The most active stocks were HDFC Standard Life which zoomed over 5 percent followed by Jet Airways and Titan Company.
The top losers were Dr Reddy's Labs, Bajaj Finance and Tech Mahindra.
From the BSE, the stocks that gained the most included Future Retail which zoomed over 8 percent while Gujarat Pipavav Port added 4.3 percent. Reliance Communications, Zee Entertainment and Welspun Corp were the other top Sensex gainers.
The stocks that hit new 52-week high on NSE included BASF, Emami, Kolte Patil, L&T Infotech, NCC, Sadbhav Engineering, Titan Company, KPIT Tech among others.
From the BSE, the stocks that hit fresh 52-week high were Maruti Suzuki, Bajaj Auto, Proctor & Gamble, BASF, IFB Industries among others.
The market breadth was in favour of the advances on Wednesday morning with 903 stocks advancing as against 648 declines. On the other hand, 1137 stocks advanced and 753 stocks declined on the BSE.
Research and broking firm Edelweiss Financial Services has maintained a buy on Future Retail with a target of Rs 628 per share expecting 742 bps jump in RoE to 24.1 percent over FY17-19.
Macquarie has maintained an outperform rating on Zee Entertainment with a target of Rs 615 per share. It believes that the company has ample levers to continue its investments and achieve over 30 percent margin.
Technical Analyst Ashwani Gujral of ashwanigujral.com has a buy on Bajaj Auto with a stop loss of Rs 3250, target of Rs 3400.
Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd
