"Arasu cable deal and revival in ad spend will boost revenues in FY13E and FY14E. Digitisation will further help to increase DTH revenue in southern market where the company has dominant market share. At current price, the stock is trading at 11.4x PE to its FY14E earnings. We maintain ACCUMULATE recommendation on the stock with a price target of Rs 294," says KRChoksey research report.
Reliance Industries: Bonanza Portfolio is bullish on Reliance Industries and has recommended buy rating with target price of Rs 800.
Reliance Industries limited has reported a negative but better than expected net profit for June quarter supported by robust growth in other income, lower taxes and higher volume growth in refining business.
We have estimated implied revenue growth and earnings growth of 12% for 9MFY13E. Despite rich valuations we retain ACCUMULATE rating (positive bias) with revised price target of Rs500/Share - in lieu of strong earnings growth in medium term," says Emkay Global Financial Services research report.
DISCLAIMER: GoodReturns provides you with information covering shares, futures and options based on broker's reports as stated on various media. Investors are, however, warned that they should NOT take any buy or sell decision based on these views expressed in the article. Investors should consult their own financial and share advisors before taking purchase or sale decisions. GoodReturns does not take any responsibility for any losses incurred by investors who take their cues from the above article.