Scripscan-ETC Networks
CMP-70
Traded in:NSE-BSE
Story:-Etc network is another misunderstood gem from the midcaps fraternity.The scrip has got a huge battering ever since it relisted.The company is operating in couple of sunrising sectors,Media and other being education.Education companies like educomp,everonn quotes at a P.E of more than 10-30 there forward earnings.Presently the education business of the company contributes about 1/3rd of the total business and the managements expects it to overtake the entertainment business over the next 15 months .Etc is not comparable to its peers and it should quote at a better valuation in the coming days.As the educational business contributes more for the comopany the valuation would get richer.The company is set to deliver an EPS of around 35 in fiscal 2010.So at present levels of 70 its just quoting at a forward PE multiple of 2.Considering the pedigree quality of Zee group,the potential of both the sectors,the cheap valuations,robust prospects,am very bullish and positive on the company.Owning ETC at present levels should reward investors with hefty returns going forward.A great buy.
Regards,
ARUN
I can be reached at:arunanalyst@rediffmail.
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Note: The artciles are not research reports but assimilation of information available on public domain and it should not be treated as a research report.
Registration status with SEBI: I am not registered with SEBI under the (Research Analyst) regulations 2014 and as per clarifications provided by SEBI: “Any person who makes recommendation or offers an opinion concerning securities or public offers only through public media is not required to obtain registration as research analyst under RA Regulations”
Disclosure: It is safe to assume that I might have the dkiscussed companies in my portfolio and hence my point of view can be biased.Readers should consult registered consultants before making any investments.
Registration status with SEBI: I am not registered with SEBI under the (Research Analyst) regulations 2014 and as per clarifications provided by SEBI: “Any person who makes recommendation or offers an opinion concerning securities or public offers only through public media is not required to obtain registration as research analyst under RA Regulations”
Disclosure: It is safe to assume that I might have the dkiscussed companies in my portfolio and hence my point of view can be biased.Readers should consult registered consultants before making any investments.

Thursday, December 18, 2008
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