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Last Updated : Sep 18, 2018 05:00 PM IST | Source: Moneycontrol.com

Buy Dish TV India; target of Rs 100: Motilal Oswal

Motilal Oswal is bullish on Dish TV India has recommended buy rating on the stock with a target price of Rs 100 in its research report dated July 10, 2018.

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Motilal Oswal 's research report on Dish TV India

After witnessing a weak performance over the last few quarters, Dish TV (DITV) - post its merger with Videocon - rebounded strongly in 1QFY19. Subscription revenue grew 8% QoQ to INR14.9b, driven by steady 7% QoQ ARPU growth, leading to 8% QoQ growth in consol. revenue to INR16.6b (7% beat). Consol. EBITDA grew by a robust 39% QoQ to INR5.6b (27% beat), led by revenue growth and 3% QoQ opex savings.

Outlook

We believe DITV is attractively priced - at CMP, the stock trades at EV/EBITDA of 6x FY19E and 4.7x FY20E. We increase our TP to INR100 (prior: INR95), valuing DITV at 7x on FY20E. Maintain Buy.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

First Published on Jul 11, 2018 02:02 pm
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