Hold DB Corp: target of Rs 90: ICICI Direct
ICICI Direct recommended hold rating on DB Corp with a target price of Rs 90 in its research report dated August 17, 2021.
August 19, 2021 / 12:43 PM IST
ICICI Direct's research report on DB Corp
DB Corp is India’s largest print media company that publishes five newspapers in three languages (Hindi, Gujarati and Marathi) across 12 states in India. Other segments of the company include radio (MY FM) with a presence in seven states and 30 cities and digital business.
We maintain our HOLD rating as we believe that print growth recovery could be slow and higher newsprint prices could pose further risks on margins We value DB Corp at Rs 90 i.e. 6x FY23E P/E
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