Stock in focus: Why is TV Today Network attracting the attention of market participants?

A high growth media company, TV Today Network is posting good profits every year.

TV Today Network Limited is a media and entertainment company engaged in television programming, radio broadcasting and broadcasting activities This media company has a market cap of Rs 2305 crore and is a high growth company posting good profits every year. In the last five years, revenue has grown yearly at 15.72% vs the industry average of 8.85%. This certainly shows that the company is on the right track with its business performance and is quite evident with its movement in the stock price. Major stake of the company has been held with its promoters (58.45%) while the FII hold 6%. Around 20% of the portion is held by retail investors.

The stock has performed exceptionally well by delivering a whopping 70.11% returns YTD while its three-month performance stands at 28.86%. This shows that the stock is performing strongly for quite some time. The company recently posted its quarterly results which were good and the company management expects better performance in times to come.

The stock has been consolidating for many months until the last week, where it recorded a resolute breakout of stage-2 cup pattern and thereafter, it is seen moving northwards. The volumes have risen since the previous week indicating larger participation in the direction of the trend. The stock is trading above all key moving averages and the RSI, too, is going strong at 85. The positive directional movement (+DMI) is well above the -DMI and the difference is consistently increasing, which shows strong trend strength in the stock. The share price has zoomed by 12% in today’s trading session and is currently trading at its 52-week high.

With increasing volume and the strength, it possesses, we might see the stock testing levels of Rs 500 in times to come, as it is the measuring implication of the cup pattern breakout. The stock looks technically strong on all fronts and fundamentally sound. TV Today Network is certainly an attractive bet and traders shouldn’t miss the opportunity in this stock.