As investors watch the corporate tussle for control of India’s largest-listed television network unfold, hopes for sector consolidation and economic reopenings are turning the nation’s lagging media stocks into winners.
The 10-stock Nifty Media Index has jumped 46% since the end of August, driven by an 81% surge in heavyweight Zee Entertainment Enterprises Ltd. -- which got a non-binding offer from Sony Group Corp.’s Indian unit last month and has said it is open to other proposals. Zee’s rally has put the media gauge on track to beat the benchmark NSE Nifty 50 Index in annual gains for the first time since 2017.
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October 19, 2021 at 07:00AM
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Media Stocks Win Big Amid Battle Over India's Top TV Network - Bloomberg
"network" - Google News
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