TV Today Network is a part of India Today group and operates a network of TV news channel.

The company comprises four news channels, namely Aaj Tak, Headlines Today, Tez and Dilli Aaj Tak. They are first Indian broadcaster to uplink from India, a 24 hour Hindu news channel. The company is having one subsidiary, namely TV Today Network (Business) Ltd.

It has a very interesting association with our group of investors. When it was trading around Rs 65 about 2 years back, a chief executive of an MNC who never had any major success in the stock market asked me for a safe stock. Upon insisting to buy TV Today at Rs 65 he bought a small quantity way back in 2013 which  has now given him a good energy to look into stock market as Investment Avenue.

During the same period, another NRI investor who was fed up by the market cycles converted all his holdings into TV Today at around Rs 80 after getting the information about the stake holders of the company. He was convinced to find Ramesh Damani sitting in the stock which gave him the guts to buy out the company with his available money.

Of late the stock has been tracing a big sinusoidal wave which worries the small investors. In fact it went on to hit Rs 250 but came down significantly to Rs 180+ after the announcement of the results. The Q2 result was not much to the expectation of the street analysts though the intelligent investors would have predicted a lackluster result at least in the beginning of the quarter. In fact any sensible investor could have predicted the result as the electoral advertisement revenue in the first quarter cannot be matched in the next several years.

Interestingly, yesterday the stock went up significantly in the intraday after Derive investments upped its stake in TVtoday.  On August 27, Derive Investments bought 1.17 million shares of TV Today Network for about Rs 21 crore as per the NSE data. Derive Investments is a fund run by independent investor Radhakishan Damani and Gopikishan Damani. R K Damnai or Mr. White is well known among investors in India. His recent pick Gati has zoomed from Rs 30+ to 300+ in a jiffy and is in the market since the Harshad Mehta times. Yesterday  Derive investment  bought 1.3 milion shares at Rs 196 which Reliance fund sold it off happily.

Is it a good buy at current levels?

The sentiment is bound to improve after Damani’s purchase but as per the chart it is in a bearish mode after tracing a bearish M curve recently. It could test the investor’s patience at least till the next quarter results are announced. However the stock offers good long term value but traders should stay away from the stock as it may not move significantly in the current bull run.