Kotak Securities research report on Entertainment Network India“ENIL reported a robust set of results for 2QFY15, on the back of strong growth in radio industry, as also growth in the non-radio business of the company. Management has indicated that the company continues to see strong growth in revenues in October/ November so far, and sounded more confident about near-term growth prospects - this also leads to improved outlook on margins. We raise our EPS estimates 9%/9% for FY15/FY16. The company stays well-placed to benefit from growth in radio industry, as also upcoming regulatory changes (Phase -3 auctions), which are expected to happen in the next 1-2 quarters. We believe the stock shall receive stronger valuations going forward, and raise our price target to Rs 575 (earlier Rs 457). We retain ACCUMULATE, and would look to buy ENIL at lower prices,” says Kotak Securities research report.
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