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Business News/ Markets / Retail and media stocks in demand as recoveries outpace fresh covid cases
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Retail and media stocks in demand as recoveries outpace fresh covid cases

At closing on Tuesday, shares of Aditya Birla Fashion, Trent Ltd , Shoppers Stop, Sun TV Network and Inox Leisure were among gainers

Maharashtra on Monday witnessed 61,607 recoveries and reported 37,236 new cases in 24 hours. (REUTERS)Premium
Maharashtra on Monday witnessed 61,607 recoveries and reported 37,236 new cases in 24 hours. (REUTERS)

MUMBAI : Shares of retail and media rose on Tuesday, despite a weak market, as the number of people recovering from covid exceeded the number of fresh cases in Maharashtra, a first in many weeks. Maharashtra on Monday witnessed 61,607 recoveries and reported 37,236 new cases in 24 hours.

At closing, shares of Aditya Birla Fashion rose 2.76%, Trent Ltd advanced 2.13%, Shoppers Stop gained 4.12%, Spencer’s Retail was up 1.28%, Sun TV Network gained 2.50%, Inox Leisure rose 2.03%, TV18 Broadcast was up 2.74%, DB Corp advanced 2.52%, and PVR was up 1.32%.

Maharashtra reported a covid recovery rate of 86.97% on Monday with 4,469,426 patients discharged after full recovery. The covid caseload of the state stood at 5,138,973.

Maharashtra's capital Mumbai also saw a dip in its daily coronavirus caseload. According to Brihanmumbai Municipal Corporation (BMC) data, the city reported 1,794 cases and 74 deaths in just 24 hours.

In Mumbai, there are a total of 45,534 active cases and 61,69,98 recoveries as of 10 May.

Mumbai's recovery rate has improved to 91% as the overall growth rate of covid-19 cases between 3 and 9 May stood at 0.41%. Moreover, active containment zones in the city have been reduced to 87. A few days ago, Mumbai had more than 100 containment zones. The city has 2,997 ICU beds, 1,521 ventilator beds, and 12,855 oxygen beds.

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Published: 11 May 2021, 05:51 PM IST
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