Business

Major media firms struggle to attract investor interest

PUNJABNEWSEXPRESS | November 02, 2019 04:56 PM

MUMBAI:Indian media firms are struggling to attract investors and stocks of media firms, along with manufacturing and auto companies, are witnessing a sharp decline on the bourses for the past months.

Some of the country's largest TV and print media companies listed on the BSE are trading near their 52-week lows owing to the ongoing economic slowdown.

The stock price of Jagran Prakashan, one of the country's largest print media groups, tumbled to its lowest in the past 52 weeks on October 14 at Rs 55.25 apiece.

Its scrip on the BSE is currently at Rs 56 a share, struggling to attract significant investment.

TV Today Network is also out of investor attention. From a high of Rs 415 apiece in November last year, it fell to Rs 311.40 on Friday.

Zee Media seems to be in deeper trouble with its stocks down to Rs 5.46 on Friday from Rs 27.10 in November last year.

Network 18 Media and Investment has seen weak investor interest, falling from a high of Rs 42.50 a share to Rs 24.15 apiece on Friday.

NDTV saw its share price fall to its lowest in 52 weeks as early as October 4 at Rs 28 apiece, significantly lower from its September's high of Rs 44 apiece.

The broadcasting company on Friday closed near its 52-week low at Rs 33 a share on the BSE.

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