ICICI Direct's research report on Saregama India
Saregama India (Saregama) is India’s oldest music label with ~1.3 lakh songs across various languages, which is monetised over various formats such as digitals (streaming, YouTube), physical (Carvaan) and television. Apart from music, it is also into TV serials/(Tamil) and creates low budget films as well as web series for OTT platforms through Yoodlee Films. We value Saregama at a revised target price of Rs 4890, at 40x FY24 P/E, as we roll over, bake in QIP and higher growth guidance.
Outlook
We value Saregama at a revised target price of Rs 4890, at 40x FY24 P/E, as we roll over, bake in QIP and higher growth guidance.
More Info
At 12:01 hrs Saregama India was quoting at Rs 4,828.45, up Rs 229.90, or 5.00 percent.
It has touched an intraday high of Rs 4,828.45 and an intraday low of Rs 4,799.00.
There were pending buy orders of 1,716 shares, with no sellers available.
It was trading with volumes of 990 shares, compared to its thirty day average of 3,148 shares, a decrease of -68.55 percent.
In the previous trading session, the share closed up 5.00 percent or Rs 218.95 at Rs 4,598.55.
The share touched its 52-week high Rs 5,487.00 and 52-week low Rs 1,519.20 on 28 December, 2021 and 30 March, 2021, respectively.
Currently, it is trading 12 percent below its 52-week high and 217.83 percent above its 52-week low.
Market capitalisation stands at Rs 9,318.40 crore.
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