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India Equity Research Reports, IPO and Stock News
India Equity Research Reports, IPO and Stock News
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• One of the largest Hindi print media companies in India;
flagship Hindi newspaper ‘Dainik Jagran’ has been the most
widely-read newspaper since 2003 (average daily readership
of 15.9m according to IRS 1Q11 survey)
• Strong leadership position (41% readership share) in Uttar
Pradesh’s (UP) print media sector
• Presence in other growing businesses – out-of-home
advertising, event management, and internet business
• Plans to expand into new markets organically and
inorganically; expects to be in businesses or regions where it
expects minimum return of 25% in next 3-4years.
• Expected to benefit from fast-growing advertising spending
in the tier 2 and 3 cities due to strong economic growth and
rising consumption compared to the metros
• Shareholding: promoters – 53%
• Valuation: Value at FY13E P/E multiple of 16.5x
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