Raj Television Network Falls to 52-Week Low of Rs.36.1 Amidst Market Pressure

On 20 Nov 2025, Raj Television Network opened the trading session with a gain of 3.36%, reaching an intraday high of Rs.39.4, which represented a 5.94% increase from the previous close. However, the stock reversed course during the day, touching an intraday low of Rs.36.1, a decline of 2.93%, and closing near this level. This marks the lowest price point for the stock in the past 52 weeks, underscoring a period of sustained downward pressure.

The stock has been on a downward trajectory for the last two trading days, with cumulative returns over this period at -3.76%. This recent decline has resulted in Raj Television Network trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, signalling a persistent bearish trend in the short to long term.

In contrast, the broader market has shown resilience. The Sensex opened higher at 85,470.92 points, gaining 284.45 points or 0.33%, and despite some fluctuations, it maintained a level of 85,292.92 points, representing a 0.12% gain. Notably, the Sensex reached a new 52-week high today, supported by mega-cap stocks leading the gains. The index is trading above its 50-day moving average, which itself is positioned above the 200-day moving average, indicating a bullish market environment overall.

Over the past year, Raj Television Network’s stock price has declined by 39.14%, a stark contrast to the Sensex’s 9.94% gain over the same period. The stock’s 52-week high was Rs.95.35, highlighting the extent of the price contraction. This underperformance extends beyond the last year, with the stock also lagging behind the BSE500 index over the last three years, one year, and three months.

Financially, the company’s long-term fundamentals have shown limited strength. The average Return on Capital Employed (ROCE) stands at 2.54%, indicating modest efficiency in generating returns from capital invested. Net sales have recorded an annual growth rate of 12.30% over the past five years, while operating profit has grown at a rate of 10.12% annually during the same period. These figures suggest moderate expansion but fall short of robust growth benchmarks within the media and entertainment sector.

Debt servicing capacity remains a concern, with the average EBIT to interest ratio at a low 0.07, reflecting limited earnings before interest and taxes relative to interest obligations. This ratio points to potential difficulties in comfortably meeting interest expenses from operating profits.

Recent financial results further illustrate challenges. The operating cash flow for the fiscal year registered a negative figure of Rs. -5.17 crores, the lowest recorded. Profit after tax (PAT) for the latest six-month period was Rs.0.52 crores, showing a contraction of 47.31% compared to prior periods. Additionally, cash and cash equivalents at the half-year mark were at a minimal Rs.0.17 crores, indicating constrained liquidity.

The stock’s risk profile is elevated, with negative EBITDA figures contributing to a perception of higher risk relative to historical valuations. Despite the stock’s price decline, reported profits have risen by 77.3% over the past year, a divergence that may reflect accounting or operational nuances rather than market valuation alignment.

Ownership of Raj Television Network remains concentrated with promoters holding the majority stake, a factor that may influence corporate governance and strategic decisions. The media and entertainment sector continues to face evolving challenges, including shifts in consumer behaviour and competitive pressures, which are reflected in the company’s stock performance and financial metrics.

In summary, Raj Television Network’s stock has reached a significant low point at Rs.36.1, reflecting a combination of subdued financial indicators and market sentiment. While the broader market and sector indices have shown strength, the company’s valuation and performance metrics highlight areas of concern that have contributed to the current price level.

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