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Reduce HT Media: Prabhudas Lilladher

Posted on: May 25th, 2009 and is filed under Brokerage Recommendations.

Prabhudas Lilladher has maintained its reduce rating on HT Media in its May 19, 2009 reports.

“Although the worst is over for the company in terms of cost overheads (with newsprint prices back to January 2008 levels), maintaining ad revenue growth will continue to be quiet challenging. Additionally, all of the new ventures viz., radio, internet, mobile and media outsourcing continue to offset any revival in the profitability for the print business. HTM has been in the investment mode for some time now and the downturn in the economy has lengthened the gestation period for some of these ventures, thereby continuing to cap the company’s ROE for atleast next 18 to 24 months. We maintain our ‘Reduce’ rating on the stock,” says Prabhudas Lilladher’s report.

source: Moneycontrol

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