ICICI Direct has given Buy recommendation for TV Today Network with a target price of Rs. 350 in its research report issued on Aug 13, 2022

ICICI Direct’s research report on TV Today Network

TV Today Network (TV Today) is a leading news company engaged in broadcasting operations. Part of the India Today Group, the company operates mainly in three segments—digital, television and radio broadcasting • It has consistently maintained its leadership in the Hindi new segment across the last two decades.

Outlook

We maintain BUY as we believe that with stable double digit growth, healthy return ratio and current valuations provides a margin of safety. Any announcement of cash utilisation like dividend/digital asset acquisition (which company is contemplating) will also be a key trigger. We value TV Today at Rs 350 i.e. 10x FY24E P/E.

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