Reliance MediaWorks scrip soars 17 pc on BSE

ADAG firm Reliance MediaWorks on Tuesdayzoomed over 17 per cent in the morning session at the Bombay Stock Exchange(BSE), amid a sluggish broader market.

Anil Ambani-led Reliance MediaWorks soared17.25 per cent to touch its early high of Rs 291.25 on the BSE, driven by heavybuying.

"Although, the company had reported anet loss of Rs 44.7 crore for the September quarter, but it was still betterthan what the Dalal Streethad expected which is driving the up move in the stock," Geojit BNPParibas Financial Services AVP Gaurang Shah said.

Similarly, on the National Stock Exchange,the stock was trading at Rs 294, reflecting a surge of 18.14 per cent.

In terms of volume, over 70 lakh shares ofthe company were traded on the bourses within first two hours of the trade.

Meanwhile, entertainment firm PVR also rose4.17 per cent to reach its early high of Rs 176 on the BSE, boosted by a growthof 39.28 per cent in its consolidated net profit at Rs 8.97 crore for thequarter ended September 30.

However, the BSE Sensex was quoting down by27 points at 20,328.62.