HT Media, DB Corp surge up to 20% on ad rate hike

NEW DELHI: Shares of HT Media, DB Corp and Jagran Prakashan surged up to 20 per cent on Wednesday after the government upwardly revised advertisement rates for print media.

The government has announced a hike of 25 per cent over and above the existing rate structure.

The decision is said to be of great benefit, especially for medium and small newspapers, including those in regional and vernacular languages.


In the last such revision in 2013, rates were raised by 19 per cent on top of the rates of 2010. The decision will be valid for three years.

The Nifty Media index closed 0.04 per cent down at 2494.95 on Wednesday.

HT Media (up 20 per cent), DB Corp (up 7.58 per cent), Jagran Prakashan (1.91 per cent) and TV Today Network (1.70 per cent) rose big time.

UFO Moviez India (up 1.36 per cent), Zee Media Corporation (1.25 per cent) and TV18 Broadcast ( up 0.13 per cent) too advanced.

Benchmark NSE Nifty50 index closed up 53 points at 10,855.15 while the BSE Sensex closed 231.98 points higher at 36,212.91.

Among the 50 stocks in Nifty index, 24 closed in the green, while 26 stood in the red.