Jagran Prakashan inches up after brokerage rating

Jagran Prakashan was up 0.73% to Rs 178.35 at 12:00 IST on BSE on reports a foreign brokerage has maintained outperform rating on the stock for a target of Rs 212.

Meanwhile, the S&P BSE Sensex was up 166.13 points or 0.57% at 29,403.28. The BSE Mid-Cap index was up 94.59 points or 0.68% at 13,906.67.

On the BSE, 18,000 shares were traded on the counter so far as against the average daily volumes of 36,770 shares in the past one quarter. The stock had hit a high of Rs 180.75 and a low of Rs 178.25 so far during the day.

 

The stock had hit a record high of Rs 213 on 8 September 2016 and a 52-week low of Rs 149.55 on 29 March 2016. It had underperformed the market over the past one month till 27 March 2017, sliding 5.27% compared with the Sensex's 1.47% rise. The scrip had also underperformed the market over the past one quarter, gaining 6.95% as against the Sensex's 11.53% rise.

The mid-cap company has equity capital of Rs 65.38 crore. Face value per share is Rs 2.

The target price of Rs 212 provides an upside of 19.74% over the stock's closing price of Rs 177.05 yesterday, 27 March 2017.

Jagran Prakashan's net profit rose 25.6% to Rs 89.13 crore on 5.7% growth in net sales to Rs 488.67 crore in Q3 December 2016 over Q3 December 2015.

Jagran Prakashan is a leading media and communications group with interests spanning across newspapers, radio, magazines, outdoor advertising, promotional marketing & event management, and digital businesses.

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