Trading desk: The movers and shakers on D-Street
TV Today gained 10% to close the day at Rs 121.25, NDTV rose 9% to Rs 81.10. Other media stocks such as TV18, Network 18 and Entertainment Network rose between 4% and 8%.
By ET Bureau |
Media stocks rallied on Monday on hopes that 2014 will be a good year, riding on the back of general election which could provide the biggest ad revenue to print, television, radio and digital media.
While TV Today gained 10% to close the day at Rs 121.25, NDTV rose 9% to Rs 81.10. Other media stocks such as TV18, Network 18 and Entertainment Network rose between 4% and 8%.
>> Brokerage firm IIFL upgraded the ratings on HDFC Bank to ‘Buy’ and raised the target price to Rs 830 a share as it expects the stock to trade at higher than historical average P/B, given the prospect of stronger earnings growth. Faster balance sheet growth and depletion of qualifying debt as capital instruments under Basel III would warrant capital augmentation over the next year and a half.
>> Shares of telecom service providers took a hard knock on Monday after the Delhi High Court upheld the TDSAT order and allowed the Comptroller and Auditor General (CAG) to audit the accounts of private sector telecom companies. While Tata Teleservices lost 4.4% to Rs 8.04, Idea Cellular and Reliance Communications stocks were down by 2% and 1%, respectively.
>> Tata Motors shares gained 4.15% to Rs 366.85 after Jaguar Land Rover’s US sales jumped 17% to 7,308 units in December 2013 against the year-ago period. Jaguar’s overall sales rose 47% to 1,544 units in December 2013 against last year’s.
>> Kotak Securities initiated coverage on Pidilite Industries (PIL) with an ‘Accumulate’ rating and set a target price of Rs 323 based on 27x FY15E earnings. The brokerage house believes that Pidilite can command a premium over its peer group, considering its relatively higher growth in its estimated consolidated revenues through FY13-15E, its healthy balance sheet, and strong brand perception.
While TV Today gained 10% to close the day at Rs 121.25, NDTV rose 9% to Rs 81.10. Other media stocks such as TV18, Network 18 and Entertainment Network rose between 4% and 8%.
>> Brokerage firm IIFL upgraded the ratings on HDFC Bank to ‘Buy’ and raised the target price to Rs 830 a share as it expects the stock to trade at higher than historical average P/B, given the prospect of stronger earnings growth. Faster balance sheet growth and depletion of qualifying debt as capital instruments under Basel III would warrant capital augmentation over the next year and a half.
>> Shares of telecom service providers took a hard knock on Monday after the Delhi High Court upheld the TDSAT order and allowed the Comptroller and Auditor General (CAG) to audit the accounts of private sector telecom companies. While Tata Teleservices lost 4.4% to Rs 8.04, Idea Cellular and Reliance Communications stocks were down by 2% and 1%, respectively.
>> Tata Motors shares gained 4.15% to Rs 366.85 after Jaguar Land Rover’s US sales jumped 17% to 7,308 units in December 2013 against the year-ago period. Jaguar’s overall sales rose 47% to 1,544 units in December 2013 against last year’s.
>> Kotak Securities initiated coverage on Pidilite Industries (PIL) with an ‘Accumulate’ rating and set a target price of Rs 323 based on 27x FY15E earnings. The brokerage house believes that Pidilite can command a premium over its peer group, considering its relatively higher growth in its estimated consolidated revenues through FY13-15E, its healthy balance sheet, and strong brand perception.
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