Here’s why media stocks are buzzing in trade
Media stocks have seen big gains coming in as restrictions are easing out, and all eyes are on Sun TV as the company will be reporting its Q4 earnings on Friday. CNBC-TV18’s Nupur Jainkunia gets more details.
Media stocks have seen big gains coming in as restrictions are easing out, and all eyes are on Sun TV as the company will be reporting its Q4 earnings on Friday.
Second half of FY21 saw a sharp rebound in economy, resulting in better advertisement revenue growth. CNBC-TV18 poll indicates 6 percent increase in overall revenues, 5 percent jump in operating profits, margins at 68 percent, and net profit to come in at Rs 381 crore.
All these media stocks are trading at historical discounts. Zee for instance is trading at 12 times, Network18 at 9 times, TV Today Network also 9 times, and Sun TV too is trading lower at just 10 times.
With the opening up of the economy, advertisement revenues are expected to bounce back sharply resulting in better earnings further aided by growth in their digital business.
Watch this video for more.
Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
(Edited by : Dipika)
First Published: Jun 11, 2021 11:02 AM IST
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