Media space seeing significant recovery: Saurabh Mukherjea, Execution Noble

Saurabh Mukherjea, Head of Indian Equities, Execution Noble, in a chat with ET Now talks about Reliance Broadcast Network and media stocks.

What is your view on Reliance Broadcast Network?

We see the top 3 media plays in India as being Zee, Sun and Star and across all 3 - from what we are hearing - inventory is getting used up. So ad inventory is getting used up and airtime rates have been hiked. So we are in the middle of a fairly significant media recovery, probably in the early stages of a media recovery and we see Zee and Sun being the way to play it.

If I had to choose between those 2, I would tilt towards Sun but clearly if there is a media recovery, then pretty much everybody should benefit.

That is a broadcast line of business. What about radio and outdoor advertising, the newer streams out there?

I would not be able to comment on radio but print media, particularly the vernacular print story, seems to be getting a lot of traction. Whether you focus on Dainik Jagran or Hindustan, there clearly is something meaningful happening in terms of vernacular print media.