Two Tests for India: The Rupee Under Pressure, and SEPC Ltd (₹4.95) at a Valuation Crossroads

Tit - bits

#Yesterday's BTST scrip of Graphite India Ltd

reached the first target of Rs.320, as it made an intraday high of Rs.324.80. You can book some profits and hold the rest with the SL mentioned earlier. 

#Buy the shares of Music Broadcast Ltd (Radio City) at around Rs.27.50, for short term targets of Rs.37/39. There is a Bonus issue news in the counter. Music Broadcast has net cash of ₹2.33b (Rs.233 Cr). This is fairly high as compared to its current market capitalization.
Actually, Music Broadcast had debt of ₹156.3 million at the end of March 2019, a reduction from ₹499.10 million over a year. But on the other hand it also has ₹2.49 billion  in cash, leading to a ₹2.33 billion net cash position.
Jagran Prakashan Ltd (a great dividend yield stock; CMP: Rs.67.85) publishes the country's largest circulated newspaper, Dainik Jagran. It also owns Mid-day and Radio City.

About Radio City

Radio City, a part of Music Broadcast Limited (MBL) is a subsidiary of Jagran Prakashan Ltd. Being the first FM radio broadcaster in India and with over 17 years of expertise in the radio industry, Radio City has consistently been the number one radio station in Bengaluru and Mumbai with 24.5- and 15.7- average listenership share respectively. (Source: RAM Data,TG: 12+ Period: Week 1, 2013 to Week 21, 2019). Radio City Delhi ranks #2 with 13.4- average listenership share (Source: RAM Data, TG: 12+ Period: Week 1, 2019 to Week 21, 2019).

Music Broadcast Limited currently has 39 stations across 12 states, comprising 62- of the country’s FM population. Radio City reaches out to over 69 million listeners in 34 cities covered by AZ Research 2019 (Source: AZ Research Report). The network provides terrestrial programming along with 18 other web-stations, through its digital interface, www.radiocity.in. 

Radio City has spearheaded the evolution of FM radio by offering content that is unique, path-breaking and invokes city passion amongst listeners with its brand philosophy of “Rag Rag Mein Daude City”. The network introduced humour and the concept of agony aunt on radio with Babber Sher and Love Guru respectively. It also initiated Radio City Freedom Awards, a platform to recognize independent music and provided a launch pad to budding singers with Radio City Super Singer, the first singing talent hunt on radio.

Radio City bagged 73 awards across national and international platforms like Golden Mikes, India Radio Forum, New York awards, ACEF awards etc. in 2018-2019. Radio City has consistently featured for the 7th time in ‘India’s Best Companies to Work For’ study conducted by Great Place to Work Institute. In 2019, Radio City ranked 6th in ‘Best Large Workplaces in Asia’, according to the GPTW survey.

Radio players are making the most of their content offerings and brand loyalty. For instance, Radio City’s digital arm produces both short and long-form videos in genres such as Bollywood, comedy, human interest stories, drama and food. It has 18 web radio stations and over 5,000 podcasts across language.

#The Wockhardt Ltd (Rs.282) should now look for targets of Rs.292/296. SL: Rs.271.

#The BSE Sensex is now trading at 41,920.36 down 0.03 points (-0.03%) while the Nifty is seen at 12,340.45 down 8.45 points (-0.12%). I feel while the the indices are likely to consolidate around the current ranges,  the action would be more pronounced in the mid and small cap space: as the budget date approaches.
Buy good pedigree mid and small caps, whigh has a story  to tell.