Media and Entertainment (M&E) stocks are trading with traction as India is pushing a revenue- sharing agreement with China under the proposed mega trade deal RCEP to ensure that domestic film producers get their rightful dues from revenue generated by showing Bollywood movies in China.
Zee Entertainment Enterprises is currently trading at Rs. 349.45, up by 30.10 points or 9.43% from its previous closing of Rs. 319.35 on the BSE. The scrip opened at Rs. 351.25 and has touched a high and low of Rs. 367.25 and Rs. 319.60 respectively. So far 9583291 shares were traded on the counter.
PVR is currently trading at Rs. 1577.05, up by 13.75 points or 0.88% from its previous closing of Rs. 1563.30 on the BSE. The scrip opened at Rs. 1569.40 and has touched a high and low of Rs. 1582.05 and Rs. 1541.00 respectively. So far 4404 shares were traded on the counter.
Shemaroo Entertainment is currently trading at Rs. 422.00, up by 8.85 points or 2.14% from its previous closing of Rs. 413.15 on the BSE. The scrip opened at Rs. 412.10 and has touched a high and low of Rs. 422.00 and Rs. 412.10 respectively. So far 693 shares were traded on the counter.
Currently, Bollywood movies make good money in but due to absence of any revenue sharing agreement, domestic film producers often do not get the due share from the huge profits generated in the neighbouring country from the movies. Though revenue- sharing agreement is a private contract, a formal agreement under RCEP would help Indian film producers get a better deal in China.
| Company Name | CMP |
|---|---|
| Zee Entertainment | 85.22 |
| Sun TV Network | 649.00 |
| GTPL Hathway | 68.87 |
| Network 18 Media Inv | 36.18 |
| TV Today Network | 114.81 |
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