“Aaj Tak” Parent Co. Gives Rs 67 Dividend, Good P/E Ratio, Should You Buy The Stock?

The stock of TV Today Network, which owns new channels like Aak Tak and Headlines today has declared a whopping dividend of Rs 67 per share.

Should you buy the stock of TV Today Network?

We do not have normally give any buy, sell or hold calls, but let's take a look at what ICICI Direct has said in its recent report. The firm has a price target of Rs 300 on the stock. Now, let's assume that you buy the stock now and you get a dividend of Rs 67 per share. The acquisition cost of the stock becomes Rs 231. Now, the brokerage has a target price of Rs 300 on the stock in 1-year's time, which still means an upside of 30% from current levels.

Financial Performance of TV Today Network

According to ICICI Direct, the topline came in at Rs 231.3 crore, down 10% YoY on a healthy base. TV and other media (clubbed segment of broadcasting and digital) revenues came in at Rs 228.9 crore (down 9% YoY). "The performance was impacted by weak TV ad spends and lower ad inventory. The digital segment has grown in double digits, as per our understanding," the brokerage has said. The brokerage has projected an EPS of Rs 25.9 for FY 2024-25, which would make the stock cheap at current levels.

Movement of the stock

TV Today Network stock bit a 52-week high of Rs 430 and a 52-week low price of Rs 222 on the BSE. The stock has seen some selling pressure in the last few weeks, maybe on account of the tepid spends in the advertisement space.

Current market price	52-week high price	52-week low price
Rs 298	430	222

Disclaimer

This article is for informational purposes and highlights the dividend yield. The "buy" call is not ours and the target price is that of ICICI Direct. Neither the broking firm, nor Greynium, nor the author should be held responsible for losses based on a decision from the article.