NEW DELHI: Shares of TV Today Network advanced for ninth consecutive trading session to its fresh 52-week high of Rs 415.05 on Monday. The scrip has surged over 50 per cent during September 12 and September 25.

Shares of the company were trading at Rs 263.95 on September 12, 2017. The scrip was up 8.70 per cent at Rs 390.30 on Monday.

Investor Ramesh Damani was holding 1.46 per cent stake in the smallcap company as of June 30, 2016, according to the data available with BSE.

On the BSE, 2.15 lakh shares were traded on the counter so far as against the average daily volumes of 84,000 shares in the past two weeks.

For the quarter ended June 30, 2017, the company reported 13.36 per cent fall in net profit at Rs 19.39 crore against net profit of Rs 22.38 crore in the corresponding quarter last year. However, net sales of the company jumped 1 per cent to Rs 151.07 crore from Rs 136.94 crore in the same period last year.

Sharekhan in its research report on September 21 said, “TV Today is in a sweet spot to leverage the uptrend in advertising spends and full digitalisation regime, which augur well for the company’s further growth prospects. In addition, strong free cash flow generation and healthy balance sheet profile set apart TV Today from its peers in the news broadcasting segment. With 20 per cent earnings CAGR over FY2017-FY2020E coupled with impressive return ratios, TV Today is an ideal investment bet in the TV broadcasting space.”