Buy TV18 Broadcast, target price Rs 42: IIFL

IIFL has buy call on TV18 Broadcast with a target price of Rs 42. The current market price of is Rs 40.6.

TV18 Broadcast Ltd., incorporated in the year 2005, is a Mid Cap company (having a market cap of Rs 6891.73 Crore) operating in Media & Entertainment sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 1369.32 Crore, down -.15 % from last quarter Total Income of Rs 1371.34 Crore and down -4.20 % from last year same quarter Total Income of Rs 1429.29 Crore. Company reported net profit after tax of Rs 236.14 Crore in latest quarter.

Investment Rationale
Stock has given a consolidation break out on the daily chart

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