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Buy TV18 Broadcast Ltd. target Rs 60.0 : HDFC Securities

Buy TV18 Broadcast Ltd. at a price target of Rs 60.0 and a stoploss at Rs 45 from entry point.

Last Updated: Nov 27, 2017, 02.33 PM IST
HDFC Securities has buy call on TV18 Broadcast Ltd. with a target price of Rs 60.
The current market price of TV18 Broadcast Ltd. is Rs 55.3. Time period given by analyst is month when TV18 Broadcast Ltd. price can reach defined target.
HDFC Securities recommended to keep stoploss at Rs 45.
“TV18 has surged higher this week to close at a 52 week high. In the process, the stock has also closed above a two year trading range, which is a positive signal for the intermediate term. The breakout was accompanied with huge volumes which augurs well for the uptrend to continue. Technical indicators like the 50 day SMA and the 14-week RSI too are giving encouraging signals,” said, Subash Gangadharan, Senior Technical Research Analyst, HDFC Securities.
TV18 Broadcast Ltd., incorporated in the year 2005, is a Mid Cap company (having a market cap of Rs 8666.09 Crore) operating in Service sector.

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