Investors switch on to FM radio operators

Mumbai, Dec 28: Entertainment Network India rose 3.7 per cent to Rs 265.40, Adlabs Films gained 3.5 per cent to Rs 432 and Sun TV rose 3 per cent to Rs 1482, a leading broker said.

Shares of these three FM ratio operators were in demand today following reports in a section of the media that the government is likely to increase the foreign investment cap in private FM radio to 49 per cent from 20 per cent now.

This could give a big push to FM radio companies to fund their projects. It is estimated that FM radio companies need investment of over Rs 3000 crore to complete their rollout plans.

94,630 shares changed hands in Entertainment Network India (ENIL), 2.4 lakh shares changed hands in Adlabs and 34,748 shares got traded in Sun TV at BSE, brokers added.

UNI