NEW DELHI: Shares of HT Media, DB Corp and Jagran Prakashan surged up to 15 per cent on Wednesday after government upwardly revised advertisement rates for print media. The government has announced a hike of 25 per cent over and above existing rate structure. The decision is said to be of great benefit, especially for medium and small newspapers, including those in regional and vernacular languages. In last such revision in 2013, rates were raised by 19 per cent on top of rates of 2010.

The decision will be valid for three years.

The Nifty Media index was 0.79 per cent up at 2,515.55 around 9:21 am on Wednesday.

HT Media (15.29 per cent), DB Corp (up 6.93 per cent), Jagran Prakashan (6.89 per cent), Zee Media Corporation (2.71 per cent) and TV Today Network (1.34 per cent) rose big time.

UFO Moviez India (up 1.19 per cent), TV18 Broadcast (1.06 per cent) and Network 18 Media Investments (1.01 per cent) too advanced. Benchmark NSE Nifty was up 57.30 points at 10,859.45 while BSE Sensex jumped 209.59 points to 36,190.52 in morning session. Among 50 stocks of Nifty, 42 were in green and 8 in red.