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

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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