However, the company denied any allegations of an ongoing investigation.
Recommendation: Add; Target price: Rs 980
Steady performance expected from the company.
Profit after tax declined 17% year-on-year in the first quarter.
Data on the U.S. consumer price index (CPI), which is due later today, is anticipated to indicate a small increase in inflation in July.
According to Zee, marketing costs climbed as a result of investments in new series, films, and theatrical releases, while programming and technological costs rose as a result of greater content costs in movies.
In comparison to the same quarter last year, the company reported an EBITDA of Rs 70 crore in the June quarter, an increase of 41% year over year.
The company's board approved the issuance of 7,59,77,000 equity shares valued at Rs 10 each
Investors with very high risk appetite and want to invest for 5 to 7 years in a innovative sector mutual fund should invest in Nippon India Innovation Fund.
The unchanged repo rate will help maintain the momentum in housing sales
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