Publishing media firms shares rose after govt announces 25 pct hike in ad rates

Shares of publishing companies surged up to 20 per cent Wednesday after the government hiked by 25 per cent the rates at which it releases advertisements to the print media. The scrip of HT Media zoomed 20 per cent to Rs 47.10 and that of D B Corp surged 7.63 per cent to Rs 182.65 on BSE.

The government has hiked by 25 per cent the rates at which the Bureau of Outreach and Communication releases its advertisements to the print media. The government said the decision will be of great benefit especially to the medium and small newspapers, including a large number of such papers in regional and vernacular languages.