Prakash Javadekar's promise of extension of Phase 2 licences and timely FM radio Phase 3 auction bodes well for the industry. Despite the positives, Prashant Panday, ED & CEO, ENIL sees benefits accruing by end-FY16 and FY17. He reasons that the economy will take time to pick up.
Entertainment Network India Limited (ENIL), a subsidiary of Times Infotainment Media Limited (TIML), finds the recent statements made by Information and broadcasting minister Prakash Javadekar encouraging.
Javadekar's promise of extension of Phase 2 licences and timely FM radio Phase 3 auction bodes well for the industry.
Also Read: DTH operators seek tax rationalisation, lower duty on STBs
Despite the positives, Prashant Panday, ED & CEO, ENIL sees benefits accruing by end-FY16 and FY17, especially for the media sector. He reasons that the economy will take time to pick up.
However, post the policy clearances, he sees radio companies making a lot of investments and most of it will go towards expansion as there is very little maintenance involved. He says if Phase 3 auction happens by December, capex expansions will start in three or six months. "Our capex plans linked to what happens in Phase 2 and Phase 3," he told CNBC-TV18.
He believes growth for the sector will continue in line with the last two years – early double digits.
Stay tuned for more…
Ent Network Ind stock price
On June 20, 2014, at 11:10 hrs Entertainment Network India was quoting at Rs 450.95, up Rs 10.55, or 2.40 percent. The 52-week high of the share was Rs 464.95 and the 52-week low was Rs 198.10.
The company's trailing 12-month (TTM) EPS was at Rs 17.51 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 25.75. The latest book value of the company is Rs 122.88 per share. At current value, the price-to-book value of the company is 3.67.
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