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Buy TV18 Broadcast, target Rs 56.0 : Kotak Securities

Kotak Securities pegged PE at 25.6x FY17 and 16.1x FY18 esti mated earnings.

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Last Updated: Jul 19, 2016, 01.06 PM IST
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Kotak Securities Limited has a buy call on TV18 Broadcast Ltd. with a target price of Rs 56. The current market price of TV18 Broadcast Ltd. is Rs 39.95. Time period given by analyst is year, when TV18 Broadcast Ltd. price can reach defined target. he brokerage said that while news operations in the quarter have been weak, strong growth was seen in entertainment operations (22% YoY). It pegged PE at 25.6x FY17 and 16.1x FY18 esti mated earnings.
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