With nine newspapers carrying more than 100 editions across 14 states, Jagran Prakashan is a media force to reckon with. Its flagship, Dainik Jagran, is now the world’s largest read daily with a readership of 15.91 million across Northern India.
Buying regional and local dailies has paid off well for this behemoth. JPL acquired the print business of Mid Day Multimedia Ltd. - the country’s largest afternoon paper that sells in Mumbai and Gujarat in early 2011. Mid-Day acquisition has given JPL four well well-known brands: Mid-Day (circulation of one lakh copies), Sunday Mid Day, Gujarati Mid Day (50,000 copies) and The Inquilab (50,000 copies).
But newspaper companies have to contend with paper costs that have been on the rise the past couple of months. Ad revenues are up and so are volumes. The stock trades at 0.40 times PEG. Buy.
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