Hitesh Agarwal of Angel Broking is of the view that Balaji Telefilms has target of Rs 285.
Agarwal told CNBC-TV18, "Balaji Telefilms is one of the respected content providers in the country. The company has a strong legacy in terms of TRPs. It consistently rules the charts in the top 150 programmes that is there. It commands 50% of the total Star Plus programmes, atually 50% of Star’s TRPs are contributed by Balaji’s programmes and even in the overall in the top 150 programmes, one third of the TRPs can be attributed to Balaji. So this has helped to negotiate better rates in terms of realization for its programming hours with broadcasters that is what is reflected in the 24% CAGR improvement realization over the last 2-3 years."
He further added, "We expect this trend to continue over the next 2-3 years as more and more general entertainment channels are launched in the country. Apart from this it has an Rs 35-40 in cash if you look at its investments in cash balance. We have a target of Rs 285, which again transcends into 30% upside from the current levels."
Disclosure: Analyst doesn't hold the above stock but have recommended the same to his clients.
Source: Moneycontrol.com
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