Bangalore: Sharekhan has recommended buy rating on Network 18 Media and Investments with a target of Rs.143 in its August 28, 2009 report.

In its report Sharekhan stated, "For the Network18 group, FY2009 was a year of severe pressure in terms of both operations and fund availability. In our opinion, things are unlikely to get any worse. With the advertising market showing nascent signs of recovery on the back of considerable easing of the growth concerns among corporate India, Network18's properties are likely to bounce back. Thus, with Network 18 sufficiently funded to take care of the gestation period of its ventures and the funding requirements of its businesses (especially for Viacom 18), being the holding company of the group it would create significant value for equity holders in the longer term. Thus, we recommend buy rating to the company."

Network 18 Media and Investments, formerly Network 18 Fincap, is engaged in investments and media business. Through its holding in Television Eighteen India, Network18 operates India's business news television channels, CNBC-TV18 and CNBC Awaaz. It also runs one of India's internet players - Web18, as well as one of India's real time financial information and news terminals - Newswire18. In April 2009, the company acquired the investment advisory business of Capital18 Media Advisors. As of August 24, 2009, the company's Network 18 Holdings had acquired approximately 69.2 percent interest in the Indian Film Company.