Angel Broking has maintained buy rating on Deccan Chronicle with target price of Rs 260 in its report on November 30, 2007. "We estimate the newspaper industry to grow 11% annually over the next five years on the back of increasing spending power and higher literacy levels. The industry advertising and circulation revenues are expected to grow at a CAGR of 13.3% and 7.8% respectively, in the mentioned period. We expect DCHL's Net Profit to grow at a CAGR of 38% on the back of 32% CAGR in Net Revenues over FY2007-09E. At the CMP of Rs193, the stock is trading at 19.0x and 15.3x FY2008E and FY2009E EPS. We Initiate Coverage on the stock, with a Buy recommendation and Target Price of Rs260," According to Angel Broking report.
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Source: Moneycontrol.com
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