Sell HT Media on rally, says Phani Sekhar

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Sell HT Media on rally, says Phani Sekhar

Sell HT Media on rally, says Phani Sekhar, Fund Manager, Angel Broking.

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Excerpts from Your Stocks on CNBC-TV18 Watch the full show » ALSO READ See previous views by Phani Sekhar See what other Experts & Brokerages are saying about HT Media See messages about HT Media HT Media BSE | NSE 10/02/12 Are Mutual Funds betting on HT Media?

Sell HT Media on rally, says Phani Sekhar , Fund Manager, Angel Broking.

Sekhar told CNBC-TV18, "There is a good move in HT Media because clearly the Hindi business was expected to greatly subsidies for the losses on the new launches in the English segment plus the radio business also has turnaround to some extend, but having said that all this and more is factored into the stock price. It is already trading at around 21 times FY11 and to my mind it is quite expensive and very difficult to justify especially if you see that the media space is not very secular, so the valuation become very sacrosanct. So I would clearly advice to sell on rally."