Hold GTPL Hathway: target of Rs 275: ICICI Direct
ICICI Direct recommended hold rating on GTPL Hathway with a target price of Rs 275 in its research report dated October 19, 2021.
October 19, 2021 / 10:47 AM IST
ICICI Direct's research report on GTPL Hathway
GTPL Hathway (GTPL) is a leading MSO (No. 2 in terms of subscribers) offering cable television (CATV) and broadband services with a strong presence in Gujarat (No. 1), West Bengal (No. 2) and 13 other states. Expansion into new states and digitisation has led to strong topline and earnings growth of ~27% and ~86% CAGR, respectively over FY16-21
Given the sharp run up (up 108% in last six months), we maintain HOLD We value GTPL at Rs 275 i.e. 15x FY23E P/E
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