Weak ad growth; cautious outlook in near term The quarter was marked by weakness across the key segment of advertisers owing to macroeconomic headwinds. The management also sounded cautious in term of outlook and indicated that it expects mid-single digit growth in FY20, at best. In terms of market share, the company has gained 2-3% market share gains from the bottom in Q4FY19 due to NTO in key genre of Tamil and is looking to maintain aggressive content spend to wrest back some more market share. Going ahead, we factor in 7.5% CAGR in TV...