DB Corp's results missed estimates modestly, as circulation revenues came in below estimates. Advertising revenues, flattish in the quarter, have likely remained below trend in April (weakness in real-estate being the key factor); however, the management expressed confidence about low-teens growth in advertising revenues for the full-year (favourable base of 2HFY17). We continue to forecast strong growth over FY17-FY19E on the back of recovery post demonetization/ positive impact of "election supercycle" that DB Corp shall begin to experience, starting 3QFY18. Maintain BUY, with a price target of Rs 572 (unchanged).
Shares of D B Corp Ltd was last trading in BSE at Rs.367.55 as compared to the previous close of Rs. 361.8. The total number of shares traded during the day was 1882 in over 71 trades.
The stock hit an intraday high of Rs. 369 and intraday low of 361. The net turnover during the day was Rs. 686080.