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Analysts have been bullish on the stocks related to digital services, broadcast and internet services considering the recovery in the ad revenues.

"The valuations of pure broadcasters may go up. The cable operators who are facing disruption in payment, will also see things easing down," said Rajiv Sharma of SBICap Securities.

Fresh content will reflect a rise in advertising revenues for these companies. In terms of earnings, the companies have maintained their track record except for Sterlite Technologies.

In its Q4FY20 earnings, the company reported a net profit slump of 50 percent YoY to Rs 80 crore due to the COVID-19 crisis and prolonged industry challenges.

It's revenues also slipped 35 percent YoY to Rs 1,160 crore. However, the company said in its earnings statement that it remains optimistic about its future business outlook.

Den Networks reported a stellar set of June quarter earnings, with profits rising 4x despite lower revenues. Profit after tax rose four times to Rs 58.32 crore as compared to Rs 14.21 crore in the corresponding quarter last year.

Meanwhile, revenue declined 3.8 percent year-on-year (YoY) to Rs 301 crore during the June quarter.

Hathway Cable's June quarter earnings remained lackluster, however, it turned around its net loss of Q1FY20 to a consolidated net profit of Rs 45.85 crore.

The cable business remained weak for the company this year, but the broadband segment rose 9.49 percent YoY to Rs 146.51 crore. Despite the bleak quarter this year, the stock is the best-performing amongst all its peers.