Hot Pursuit     06-Feb-07
Creative Eye benefits as DD to air new production
Creative Eye climbed 5% to touch the buyer’s circuit, at Rs 11.77, after announcing the schedule of its new social programme to be aired on Doordarshan.

As many as 66,919 shares were traded on the BSE.

The scrip is on the slide since mid-January 2007. From a recent high of Rs 13.79 on 16 January, it fell to Rs 11.21 by 5 February 2007. Earlier, the stock had appreciated from a low of Rs 8.81 on 29 December 2006, to Rs 13.79 by 16 January 2007.

At the current market price of Rs 11.77, Creative Eye trades at 17.83 times its Q3 December 2006 annualized EPS of Rs 0.66.

Creative Eye's new programme "Tulsi Mere Angan" will commence from 10 March 2007, on Doordarshan every Saturday at 8.30 pm. More such programmes of the company are also due for launch on other satellite channels.

In January 2007, Creative Eye announced that Rs 13.51 crore was utilized from the Rs 25.22 crore raised through its IPO proceeds. The surplus funds are currently invested in fixed deposits with nationalised banks and mutual funds.

Earlier, Creative Eye had launched two social programmes, 'Ghar Ki Lakshmi Betiyann' which is being telecast on Zee TV, and 'Man Mein Hai Visshwas' on Sony TV.

Promoted by Dheeraj Kumar, Creative Eye is one of the early entrants in television programming. The company has a balanced mix of programmes covering various genres, including mythology, social, comedy and thrillers. Creative Eye has a strong library of over 1,500 hours. On the film front, Creative Eye has the rights of more than 73 Hindi feature films for multiple telecasts on terrestrial channels for five years till 2003 and 2004.

Creative Eye posted a net profit growth of 230% in the Q3 December 2006 to Rs 0.33 crore (Rs 0.10 crore). Net sales rose by Rs 40.5% to Rs 5.52 crore (Rs 3.93 crore).

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