That is so though not quite there yet for regional language newspapers as I understand it. Which is why I mentioned that I underestimated how much the terminal value issue would affect it. On paper (ah, a nice pun there!), Jagran is still undervalued assuming no outsize litigation impact due to the promoter group squabble. However, I have changed my mind about the importance/weight given to terminal value and growth by investors. I would like to be proven wrong given my investment :), but I don’t expect it will happen.
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