Deccan Chronicle has target of Rs 180: VK Sharma

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Deccan Chronicle Holdings has target of Rs 180, says VK Sharma of HDFC Securities.

Sharma told CNBC-TV18, "Deccan Chronicle is a media company but today it is an IPL Play. The franchise bought at about Rs 500 crore in 2008; the two franchises that have gone recently the Pune as well as Cochin, which have gone in between Rs 1500 and Rs 1700 crore. So this almost triples the value of what this particular company has in terms of franchise that adds almost Rs 60 per share."

He further added, "It might catch up another Rs 10 or so from the current levels but I think it needs to add more and it continues to be a good. One can buy Deccan Chronicle Holdings. The target is Rs 180."

Deccan Chronicle touched an intraday high of Rs 180.05 and an intraday low of Rs 172.90. At 11:55 hrs the share was quoting at Rs 178.25, up Rs 4.95, or 2.86% with volumes of 249,472 shares.

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%.

Market capitalisation stands at Rs 4,317.62 crore.