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MUMBAI, March 6

MEDIA and entertainment stocks led by Zee Telefilms Ltd (ZTL) were down in today's trading primarily in the absence of a trigger.

On the BSE, the Zee stock dipped by Rs 2.25 to Rs 74.85 with volumes of 10.71 lakh shares. Balaji Telefilms edged down by Rs 0.85 to Rs 67.55 with volumes of 10,913 shares. Sri Adhikari Brothers went down by Rs 0.65 to Rs 59.50 with volumes of 14,619 shares. Mukta Arts, however, moved up marginally to Rs 56.75 (Rs 57.45) with 37,840 shares being traded.

"ZTL is likely to be impacted in terms of advertising revenues because of the World Cup Cricket," said an analyst. Balaji Telefilms is also seen as impacted by the World Cup Cricket as viewership ratings for many programmes have fallen, the analyst said.

At the time of third quarter results, ZTL had indicated that its advertising revenues could be impacted during the fourth quarter of the current fiscal, as much of advertisements would be tilted in favour of cricket. Sony Entertainment Television (SET) has won the cable and satellite rights to telecast World Cup Cricket. SET's Max has been able to notch up high ratings for many of the matches.

However, analysts say concerns about reduction in advertising revenues are temporary. "Once the World Cup is over, everybody is going to be back watching their favourite soaps and serials," said another analyst.

As for Mukta Arts, analysts said, there is not much enthusiasm about the company's forthcoming release, "Ek aur ek gyarah". According to industry sources, expectation about this film is somewhat muted. Moreover, the release of the film has been delayed and that in turn does not augur well for the company.

Brokers said there has been selling pressure on these companies' stocks from all quarters. "This sector has been largely quiet, but we could see action as and when something comes up," a broker said.

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