Media & entertainment stocks rally; Saregama, Tips Films zoom up to 20%

Shares of media and entertainment (M&E) companies, including film production, distribution and exhibition companies, rallied up to 20 per cent on the BSE in Wednesday’s intraday trade on Wednesday, aided by heavy volumes in an otherwise range bound market.

Mukta Arts, Pritish Nandy Communications, Tips Films, Saregama India, and Zee Entertainment Enterprises rallied between 6 per cent and 20 per cent in the intraday trade today. By comparison, the BSE Sensex was up 0.07 per cent at 84,976 at 02:27 PM.