Deccan Chronicle has target of Rs 180: Mukadam

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Deccan Chronicle Holdings has target of Rs 180, says Shahina Mukadam , Varun Capital Markets.

Mukadam told CNBC-TV18, "The fundamentals of Deccan Chronicle are pretty strong. It is a smaller player in terms of subscriptions compared to its peer group but at the same time when you see the growth that we have seen in the last quarter etc is phenomenal and one of the best in the peer group. Also inspite of their subscription revenues remaining flat or infact being marginally lower, they have actually improved their margins substantially, which is going to hold good for them in the times going ahead and with the mergers of their subsidiaries including the sporting venture."

She further added, "I think in the longer term the valuation which is currently available at is just about Rs 15-16 EPS which they should do for the year which is very attractive for and its hardly about 15-16 times, so it's a good stock for the medium to longer term also. Buy Deccan Chronicle Holdings. The target is Rs 180."

Deccan Chronicle has touched a 52 week high of Rs 180.05. At 11:58 hrs the share was quoting at Rs 178.40, up Rs 5.10, or 2.94%. On Friday the share closed up 4.81% or Rs 7.95 at Rs 173.30.

Market capitalisation stands at Rs 4,321.25 crore.

The company's trailing 12-month (TTM) EPS was at Rs 10.85 per share. The stock's price-to-earnings (P/E) ratio was 16.43. The latest book value of the company is Rs 47.45 per share. At current value, the price-to-book value of the company was 3.76. The dividend yield of the company was 1.12%.