Media stocks attract FIIs
FIIs and global investors seemed to have taken an increased interest in media and entertainment sector, which has witnessed growing advertising revenues.

According to analysts, increasing interest rates and rising rupee have impacted sectors such as automobiles, manufacturing and IT, while also favouring interest insensitive sectors. Analysts feel that media companies' that have invested in television, radio and multiplexes are the only ones that don't seem to have been impacted.

Moreover, growing year on year advertising revenues in both print and electronic media have also accounted for these stocks being currently in favour despite volatility.

Analysts feel buyer interest in media stocks is likely to continue as the television industry is expected to grow by 22-23 per cent and print industry by 13-14 per cent in the next two years.

Another positive trigger is that most media companies' profits have more than doubled in the fourth quarter of the financial year 2007, said an analyst who did not wish to be named.
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