FM radio broadcasters in demand

Two FM radio broadcasters rose between 5% to 5.5% after the telecom regulator recommended allowing ownership of multiple FM channels by a single operator and raising the foreign direct investment limit.

Entertainment Network India rose 5.5% to Rs 476.45 and Mid-Day Multimedia hit 5% upper circuit at Rs 40.

Meanwhile, BSE Sensex was down 342.17 points or 1.93% to 17,392.51 as US and Asian stock markets fell on heightened fears of a US recession.

Entertainment Network India's net profit declined 35.1% to Rs 8.05 crore on 45.6% rise in sales to Rs 68.05 crore in Q3 December 2007 over Q3 December 2006.

Mid-Day Multimedia's net profit declined 55.2% to Rs 0.99 crore on 5.7% rise in sales to Rs 28.22 crore in Q3 December 2007 over Q3 December 2006