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Telecom, Digital & Media Stocks fall sharply on 24th August 2015

digital-media-stocks

A majority of the Telecom, Digital and Media stocks declined sharply, as stock markets in India crashed. Some key developments:

– Among mobile VAS, Onmobile Global crashed by 19.44% to Rs 77.5. However, do remember the time when it was trading below 20, less than a year ago. Onmobile Global results here. Tanla solutions, fell a little more sharply, down 15.89%
– Among the Internet companies, 123greetings reported the sharpest fall, down 15.29%. Intrasoft results here.
– Ecommerce distributor Gati fell 15.74% to Rs 138.7. Gati is building out its ecommerce business. Details here.
– Among TV media firms, NDTV fell the most, down 16.27% to Rs 88.5. NDTV results here.
– Among telecom operators, Reliance Communications fell 15.78%. Its results here. The only other telecom operator to fall more than 10% was Tata Teleservices, at 10.83%

The only among our list of digital and media stocks to move up: Cybermedia, up 4.96% to Rs 10.36.

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