Indian shares end up; Reliance gains

MUMBAI, Sept 4 – Indian shares pared losses to provisionally end higher, led by a recovery in blue-chip shares such as Reliance Industries while bank shares such as State Bank of India gained on hopes of government capital infusion.

MARKET EYE-Indian shares recover; blue chips gain

* India’s BSE index was up 0.23 percent, while the 50-share NSE index also gains 0.3 percent, led by recovery in blue-chip shares such as Reliance Industries and State Bank of India. * Reliance gains 1.5 percent on value buying after falling 2.6 percent over the previous two sessions. * RBI Governor Duvvuri Subbarao said at a banking event on Tuesday that government needs to infuse 900 billion rupees into state-run banks to maintain majority share holding under Basel III. * SBI shares gain 1.2

MARKET EYE-UBS maintains positive view on media sector

* UBS maintains its positive view on India’s media sector, mainly on increasing digitisation. * Estimates TV industry’s subscription revenues to grow at a CAGR of 16 percent during fiscal years 2012-17, led by growth in the number of cable and satellite homes and increase in average revenue per user. * Says broadcasters such as Zee Entertainment and Sun TV Network will benefit the most from implementation of direct-attached storage (DAS) as they will get a “higher share of subscription revenues