Short Term Buy Call For TV18

Short Term Buy Call For TV18Technical analyst Kunal Saraogi has maintained 'buy' rating on Television Eighteen India Limited stock with a short term target of Rs 83.

According to analyst, the stock can be purchased on dips with a stop loss of Rs 72.

The stock of the company, on January 17, closed at Rs 73.35 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 98.60 and a low of Rs 61 on BSE.

Current EPS is -1.54.

For the three month period ended September 2010, Television Eighteen (I) recorded a net profit of Rs 114.67 million as against a loss of Rs 262.58 million during the same period of 2009.

Net sales for the period under review remained up by 5.05% to Rs 669.51 million.

Company's total income surged 24.83% to Rs 920.56 million as against the same period of last year.

It registered EPS of Rs 0.62 in the said period as against a loss of Rs 2.19 per share during previous year period.

Commonly known as TV18, it is based in the national capital and was created under the Companies Act, 1956.

One of the major news channels in the country, TV18 has over 3000 employees spread all over the country in 30 bureau locations.

In addition, the company also has 4 divisions out of the country.

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