Nifty Media stocks trade 1% higher despite subdued trade compared to overall market sentiment. DB Corp led the gains with over 8% jump while
Jagran also surged 5%. PVR was the biggest laggard.
At around 1.58 pm, Nifty Media was trading at 1,779.90
up 17.40
or 0.99%, touching a high of 1,790.45 on Wednesday's intraday trade.
D B Corp Limited is up for a fifth straight session in a row, It had registered a 21% rise in net profit at Rs99cr in quarterly results announced last week. It was trading near day’s high of Rs92.65 per piece. The stock was trading at Rs92 per piece near day's high of Rs92.65 per piece.
Jagran Prakashan also surged 5% to trade at Rs43.25 per piece near day's high of Rs43.70 per piece.
Inox Leisure also gained over 2% ahead of quarterly results. TV Today and TV18 Broadcast stocks were also nearly 2% higher.
PVR sank 2.38% after Societe Generale acquired 10,01,813 shares in company at Rs1,519.52 per share on the BSE. However, Multiples Private Equity Fund sold 3,01,309 shares at Rs1,517.54 per share and Multiples Private Equity Fund I 8,78,153 shares at Rs1,517.91 per share.
Nifty Media had 7 advances and three declines during Wednesday's trade.