The four stocks chosen - Balaji Telefilm, Jain Studios, Mukta Arts and Tips Industries - all have recorded growth in volumes in both BSE and NSE. Tips Industries has recorded a 128 per cent jump in volumes traded at BSE from 1.27 lakh to 2.9 lakh, while at the NSE volumes spurted up 91 per cent from 4.28 lakh to 4.98 lakh. Jain Studios recorded a 200 per cent rise in volumes traded at the NSE from 0.19 lakh to 0.59 lakh, while at BSE volumes went up 12.5 per cent.

Balaji Telefilms recorded a 115 per cent jump in volumes traded at the BSE from 3.24 lakh to 6.98 lakh, while at NSE it is only at 8 per cent. The stock has also recorded a rise in its share price by around 8 per cent at both the exchanges. Mukta Arts has also recorded 62.6 and 16.3 per cent growth in volumes traded at BSE and NSE respectively. According to a brokerage firm, the entertainment industry is leading the world economy and this has also the case in India.

India is currently in the upheavals of the entertainment revolution spawned by economic liberalisation with the subsequent advent of cable television. It is estimated that the size of the Indian entertainment industry is around Rs 150 billion. Many significant changes took place within the regulatory framework like dismantling the government monopoly on uplinking. This has allowed media companies, particularly satellite companies to accept rupee advertising. Not only would this give access for smaller companies to advertise on television, but this would double the advertising pie for media companies. The next propellant in the vertical integration of the Indian media industry would start in the direct-to-home (DTH) television. The lifting of ban would open up two more revenue streams - subscriptions as well as advertisement.

Thus the media industry is well poised for growth in the current year with bigger industrial houses like Reliance setting up broad band infrastructure to become full-fledged broadcasters.