Shares of Saregama India were buzzing in trade yet again, as it bounced back from a two-day fall and surged 10 percent on September 30. With the sharp gains in today's session, backed by heavy trading volumes, the stock has delivered a 20 percent surge in the last one week.
At 11.18 am, shares of Saregama India were trading at Rs 616.55 on the NSE. It had shed around 8 percent in its previous two-day fall.
The rebound in the stock today was also supported by heavy trading volumes as 43 lakh shares already changed hands so far, higher than the one month daily traded average of 11 lakh shares.
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Analysts expect profitability margins for Saregama India to remain strong, driven by a robust contribution from high-margin licensing income and increasing digital penetration through partnerships with over-the-top (OTT) applications.
"The trend in high-margin licensing income has been rising steadily, with a growth of around 16 percent in FY24. As physical music content gradually phases out, the company's evolving business model is effectively tapping into new and lucrative avenues to monetise its existing music content, particularly retro tracks on digital platforms like OTT services (including YouTube) and through publishing avenues like movies, TV shows, and brand partnerships," CARE Ratings said.
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