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Balaji Telefilms: Near-term interest

IT is not often that a stock gets in the midst of a major corporate action on the day of listing.

But that is what has happened in the case of Balaji Telefilms. A wholly-owned subsidiary of Nine Broadcasting India is being merged with it. The company to be merged is Nine Network Entertainment, which is into production of television software. Nine Bro adcasting is a joint venture between Himachal Futuristic and the Kerry Packer group. Though the specifics of the deal in terms of swap ratio and financials are as yet unclear, there may be some interest in the stock on the back of this development. But p rice trends may be volatile in keeping with valuation patterns in media stocks. -- BL Research Bureau