Deccan Chronicle has target of Rs 250: J Shah

Jigar Shah, Sr VP, HOR at KIM ENG Securities is of the view that Deccan Chronicle Holdings has target of Rs 250.

Shah told CNBC-TV18, "Deccan Chronicle Holdings has price target of Rs 250 against the market price of Rs 103. Here we are bullish about the print media business, which is growing because of new addition from Bangalore and launch of Financial Chronicle. This will improve the ad space by 15% and the ad rate is already increased from April by 30%, so the company will benefit from that. As a non-print media business consisting of internet properties and the IPL sponsorship, both are expected to do well and its venture with New York Times and managing the internet properties of New York Times should also give some kind of boost to the revenues and profits this year. So overall at 5-times the stock looks cheap and if we just maintain the payout, the dividend yield could be 6%, which is also very attractive."

Disclosure: Analyst doesn't hold the above stock but has recommended to the clients.