Tit - bits

Photo: Slide Share

#An Ahmedabad based financial weekly has given a buy on Music Broadcast Ltd (Rs.26.50), a Jagran Prakashan Group company.  

With 10 titles across 13 states in 5 different languages and a total readership of 68 mn, Jagran is the largest print media group of the country.

Radio City 91.1 FM (Music Broadcast Ltd)  is a subsidiary of Jagran Prakashan Ltd. Radio City 91.1 FM - India's first & leading FM brand has been synonymous with the category since its inception in 2001. We can look for targets of the share price of Music Broadcast as Rs.37/39 by 27 January,  when the company's. Last week the media sector rose by 7% with TV8 Network climbing 24%. On last Friday in the BSE, the Percentage of Deliverable Quantity to Traded Quantity is a whooping 89.67%.

#There was news in Live Mint on 15 January,  that the government of India planning to expand the ETF portfolio by including stocks of PSBs, public sector insurance firms and public sector financial institutions. The current fiscal target is ₹1.05 trillion which was upgraded from ₹90,000 crore initially estimated.
The disinvestment department is learnt to have drawn up a list of relatively better performing CPSEs including bluechips like Nalco, NMDC, NTPC, and Coal India to go for offer for sale (OFS). National Aluminium Co Ltd, Coal India Ltd, NTPC Ltd, NMDC Ltd, NBCC (India) Ltd, Bharat Electronics Ltd, National Fertilisers Ltd (Rs.29.60) and Hindustan Copper Ltd, are on the list of probables for OFS.
It is pertinent to mention here that National Fertilizer Limited (NFL) had given a dividend of Rs.28.22 crore to union government for 2018-19 in respect of shares held by it. It is noteworthy that NFL has presented a cumulative dividend of Rs.1156.97 crore to the government till date against paid up equity of Rs.490.58 crore.

Abundant rain and high reservoir levels have created favourable conditions for the winter or rabi crop season, reviving demand for farm inputs such as agrochemicals and fertilizers.

As of last week, reservoirs were 82% full—the best reading in recent years. More than half of the 120 important reservoirs monitored by the Central Water Commission have water levels exceeding 80% of their storage capacity. This is brightening the outlook for winter crops, which are mostly river fed. Data from the agriculture ministry showed that crop sowing is 6.4% more than the year-ago levels.

The sales growth is aided by a favourable base and delay in summer crop (kharif) season. 
Channel checks by Antique Stock Broking Ltd showed a 15-20% year-on-year growth in sales for most agrochemical companies in October-November this year. Fertilizer industry sales volume is also up 20% during the period with key crop nutrients such as urea and DAP (diammonium phosphate) seeing good growth, data compiled by IIFL Securities Ltd show.
A prolonged summer crop this year has also pushed sales of some agrochemicals and fertilizers to October. Even then, there is no denying that farmers are more optimistic about the current crop season.
As the budget date is approaching,  we could soon witness, the beginning of a more pronounced rally in the fertilizer counters.