Media plays an important role in helping political parties interact with voters and most of the parties are now using the print media, television, radio and other social networks like Facebook, Twitter and WhatsApp to convey their messages to their prospective voters.
It is true that this would translate into huge revenue growth for the media industry at large. Also, it is expected that the formation of a stable government at the Centre post-election would result in a series of reforms to boost the economy and this would further enhance the revenue growth prospects of the industry. 
However, the sluggish economic growth and a decrease in consumer spending have strained advertisers, leading them to cut promotional budgets. This has adversely affected the media industry. 
As the election is around the corner, media stocks have become attractive to investors and some of the media stocks have witnessed smart gains since the Election Commission (EC) announced the schedule for the general election on March 5, 2014.
Also, the fast moving consumer goods (FMCG) companies are raising their advertising expenditure, which is expected to further boost the performance of the media companies.
Almost 75 per cent of television advertising is concentrated over just three categories -- FMCG, telecom and auto -- while FMCG continues to dominate television advertising. 

Nandan Chakraborty, MD, Institutional Equity Research, Axis Capital recommends investors to have a judicious mix of defensives and cyclicals in their portfolios now.
Sharing views on the current market rally, Chakraborty told CNBC-TV18 that in upmoves, consumer discretionary and BFSI stocks rise first. He expects 15 percent growth in Sensex levels by year-end. He sees big upside in select engineering and infrastructure  stocks.
Also, certain pockets of banking stocks may see large upmove going ahead. From the PSU banking pack, he is positive on  SBI  and PNB  . One can bet on auto ancillary stocks like  Motherson Sumi  in the midcap auto space, he added.
 Further, he added that earnings upgrade is seen only for companies with improvement in balance sheet, he said. Meanwhile, he expects further appreciation in the Indian currency.

IDFC and L&T Finance Holdings extended gains to 6 percent and 4.6 percent, respectively on hopes of banking license. 
The decision of whether to issue banking license or not during elections period is in hands of Election Commission and not the government. 
Election Commissioner VS Sampath on Tuesday said he has not taken a final call on the banking license issue. "
We will take up this issue on Monday," he added. Election Commission has raised legal ethical issues on banking licenses matter. 
12:20pm Talwalkars in focus Shares of Talwalkars Better Value Fitness rose 11 percent as buzz of stake sale gathered steam. According to media reports UK's health and fitness group David Lloyd is looking to buy 20 percent stake in the Indian health and fitness company. "The management of David Lloyd is in talks to pick up an equity stake in Talwalkars. This will help both companies to expand their current relationship," the report quoted an investment banker. 
12:10pm FII View Credit Suisse is bullish on India and considers elections to be a turning point for the country. Speaking exclusively to CNBC-TV18 on the sidelines of the Credit Suisse Asia Conference in Hong Kong, Sakthi Siva, Asia Strategist, Credit Suisse said that atleast 5-10 percent upside in the Indian market is possible from current levels in the near-term. Siva is quite confident that though India’s growth last year was the lowest in the past 10 years, but with politics, potential change, there could be a turning point for the Indian market and the economy. 
12:00pm The market extended an upmove in noon trade with the Sensex rising over 100 points supported by banks, capital goods and auto stocks. The Sensex rose 107.58 points to 22202.88 and the Nifty climbed 38.45 points to 6639.85. About 1468 shares have advanced, 869 shares declined, and 141 shares are unchanged. Top lender State Bank of India jumped 3.5 percent after Goldman Sachs has upgraded the PSU bank to buy from neutral rating and revised target price to Rs 2,080 from Rs 1,440 apiece. 
PNB and Bank of Baroda gained 2.5-3 percent while rivals HDFC Bank and ICICI Bank advanced 0.7 percent each. Axis Bank rallied 2 percent. Brokerage house Morgan Stanley added Axis Bank to its Asia ex-Japan model portfolio. The firm is positive on the stock given company's reducing risks in books. 
Telecom operator Bharti Airtel surged 3 percent followed by Hindustan Unilever, M&M, Hero Motocorp, BHEL and NTPC with 1-2 percent. However, state-run oil & gas major Oil and Natural Gas Corporation's stock (ONGC) is quoting ex- dividend today. It fell nearly a percent. The board of directors on March 24 have approved second interim dividend of Rs 4.25 per equity share of Rs 5 each for the financial year 2013-14.  
 Drug majors Sun Pharma and Dr Reddy's Labs declined more than 1 percent. Dr Reddy's Labs has launched Amlodipine Besylate (to treat high blood pressure) and Atorvastatin calcium tablets in US market.

Today the global scenario looks favourable, which may result in positive opening of the Indian markets. SGX Nifty is also trading 31.00 points higher.
Global Market
Asian shares raced to two-week highs on Wednesday, with investor confidence getting a much needed boost from upbeat U.S. data and lingering hopes China may take steps to stimulate its sagging economy.
US stocks Tuesday finished a choppy trading session higher, boosted by stronger-than-expected consumer confidence data. The main indexes recorded small gains after two days of losses.
European shares rebounded on Tuesday, anticipating of stimulus measures from the European Central Bank (ECB) and the Chinese central bank to help their economies fight off any slowdown.
Levels to watch out:
Supports @ 6570 - 6540 - 6510
Resistance @ 6600 - 6650 - 6680

10:30am Oberoi Realty jumps over 10%
 Oberoi Realty bought Tata Steel’s defunct manufacturing plant in Borivali, a western suburb in Mumbai. Oberoi Realty jumped 10 percent while Tata Steel rose 2 percent after the real estate developer announced buying the 25-acre land for Rs 1155 crore through e-auction
"The Committee of Independent Directors appointed for the oversight and governance of the sale process by the Tata Steel Board declared Oberoi Realty Limited as the highest bidder of the auction on the basis of their final bid of Rs 1,155 crore, after several rounds of bidding," Tata Steel said in a statement

The biggest near-term catalyst for the Indian market is the upcoming general election and the current rally is seen as the one fuelled by hope of a stable government. Gautam Chhaochharia, head of India research of UBS Securities sees the Nifty touching 6,900 on favourable election outcome.
Speaking to CNBC-TV18, he said, sector rotation will take front seat and this up move will be lead by cyclicals largely banks, which have a considerable weightage in the index. Other sectors like industrials and power would also perform well.
Traders who are looking to play recovery in the capex cycle theme can buy infrastructure stocks, but from six months – two years perspective, one should be cautious because on the ground revival in the sector will take a longer time.  L&T and  BHEL are his top picks from the capital goods space. He likes  Voltas  from the midcaps.
 UBS prefers sticking to private sector lenders and is underweight on public sector banks, however, those interested in investing in this space can consider PNB , which looks good from a valuation perspective, he said.
He is overweight on the IT sector from a strategy perspective and expects recovery in US and Europe to aid the sector. Giants  TCS and  Infosys are his top bets. However, he cautioned that sector rotation can drag IT services. Recent rupee appreciation and hopes of economic recovery has led investors to take money from this safe heaven sector to cyclicals.
Meanwhile, he expects the gas price hike to eventually go through. He is positive on  ONGC and RIL .  From the media space, he is positive on Sun TV , Dish TV and Hathway .
Continuing his bullish tone, he added that correction steps taken by previous government have given confidence in the Indian economy. He feels that bulidimng blocks for economic growth are in place. The broking firm is constructive on Indian market from a two-three year perspective