ICICI Direct's research report on TV Today Network
TV Today Network (TV Today) is a leading news company engaged in broadcasting operations. Part of the India Today Group, the company operates mainly in three segments—digital, television and radio broadcasting. It has consistently maintained its leadership in the Hindi new segment across the last two decades.
We downgrade from BUY to HOLD as ad spends outlook remains challenging in the near term. Soft ad momentum will also translate into margin softness, in our view. We value TV Today at Rs 290 i.e. 10x FY24E P/E
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