SSKI gives a neutral rating on ENIL

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SSKI gives a neutral rating on ENIL

Entertainment Network India Ltd, ENIL, is set to witness 45% CAGR in revenues to Rs 6 billion by FY10E, said, Nikhil Vora, SSKI.

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Entertainment Network India Ltd , ENIL, is set to witness 45% CAGR in revenues to Rs 6 billion by FY10E, said, Nikhil Vora, SSKI.

According to him, the stock, at current EV of Rs 12 billion, factors in all future prospects. Also, the risk return profile turns unattractive given the intensely competitive landscape in the making and limited scale of opportunity.

He initiates coverage on the stock with Neutral rating and a price target of Rs 270.

According to him, brand equity of Radio Mirchi, strong parentage (Times Group) and a growing footprint in key markets make Entertainment Network India (ENIL) the best prospect in India's radio space. ENIL is building a city-centric model and has extended its presence to out-of-home advertising as also live entertainment.