Media stocks are experiencing a strong rally on 8th October, defying broader market volatility, as PVR Inox, TV Today, and Network18 report impressive gains.

This momentum has pushed the Nifty Media index up over 3%, positioning it as the best-performing sectoral index for the day.

As the Q2 earnings season approaches, investors are shifting their focus to Indian companies’ quarterly performances. While the year-over-year outlook for media players remains subdued, there are hopes for sequential improvement.

For instance, PVR Inox’s stock performance is closely tied to box office collections and upcoming releases. Following a lacklustre in the first half of CY24, box office collections have started to pick up. They are anticipated to improve further in Q3 FY25, raising expectations for a recovery for the multiplex operator.

The recent correction in the sector has allowed investors to buy media stocks at lower prices and more reasonable valuations, leading to increased interest in the sector.

At 3:09 PM, PVR Inox was trading 3.42% higher at Rs 1,601.85, TV Today was trading 1.77% higher at Rs 224.56, and Network18 was trading 2.35% higher at Rs 75.74 on NSE.

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