Saregama India Ltd Share Price – NSE /  BSE

Entertainment, Small Cap

Saregama India Ltd is down for a fifth straight session today. The stock is quoting at Rs 502, down 0.66% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is up around 0.31% on the day, quoting at 24547.8. The Sensex is at 80424.19, up 0.25%.Saregama India Ltd has lost around 5.09% in last one month.Meanwhile, Nifty Media index of which Saregama India Ltd is a constituent, has eased around 6.22% in last one month and is currently quoting at 1933.75, up 0.78% on the day. The volume in the stock stood at 9.11 lakh shares today, compared to the daily average of 34.8 lakh shares in last one month.

The PE of the stock is 49.57 based on TTM earnings ending June 24.

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Saregama India Ltd fell for a fifth straight session today. The stock is quoting at Rs 549.2, down 0.23% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 0.4% on the day, quoting at 25026.3. The Sensex is at 81710.5, down 0.32%.Saregama India Ltd has gained around 5.69% in last one month.Meanwhile, Nifty Media index of which Saregama India Ltd is a constituent, has eased around 3.83% in last one month and is currently quoting at 2056.5, up 0.05% on the day. The volume in the stock stood at 9.75 lakh shares today, compared to the daily average of 31.59 lakh shares in last one month.

The PE of the stock is 53.95 based on TTM earnings ending June 24.

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The media reports indicated that the deal might not materialize and is still in its early stages. This development comes at a time when the film industry is facing challenges due to box office volatility and rising star fees, making it difficult for production companies to operate independently.

Recent projects from Dharma Productions include Kill, Bad Newz, Yodha, and Mr & Mrs Mahi. The upcoming release Jigra, starring Alia Bhatt, is set to hit theaters this week. Karan Johar has recently expressed concerns about the unprecedented compensation demands from movie stars, revealing in an interview that some actors had asked for Rs 40 crore in fees for Kill, which was the entire budget of the film.

In response to the market speculation, Saregama India clarified to the stock exchanges that it regularly evaluates various strategic opportunities for growth and expansion. However, the company stated that there is no material event or information that requires disclosure. Saregama assured that it will make appropriate disclosures as and when necessary.

Saregama India is a RPSG group company owning the largest music archives in India and one of the biggest in the world. The ownership of nearly 50% of all the music ever recorded in India also makes Saregama the most authoritative repository of the country’s musical heritage. Saregama has also expanded into other branches of entertainment - film & series production, live events, and music-based consumer products.

On a consolidated basis, net profit of Saregama India declined 15.09% to Rs 36.92 crore on 25.68% rise in net sales to Rs 205.28 crore in Q1 June 2024 over Q1 June 2023.

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Saregama India announced that the 77th Annual General Meeting (AGM) of the company will be held on 27 August 2024.

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