Media stocks CLSA likes DB Corp and Jagran Prakashan in print media and forecast ad revenue CAGR of 10-11 percent over FY17-19 for Hindi print picks. It has cut FY17-19 EBITDA estimates for Dish TV by 3-5 percent and slashed FY17-19 EBITDA estimates for Hathway by 10-17 percent. Dish TV is its distribution pick.
Steel stocks Jefferies maintains underperform rating on Tata Steel, SAIL and JSW Steel as domestic steel demand was steady in November despite demonetisation. It says demonetisation could hit production at secondary mills.
NTPCCredit Suisse stays outperform for now but retains preference for Power Grid. Its target is unchanged at Rs 180 per share. It says NTPC is contextually well placed to benefit from falling yields.
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