Saregama India Ltd shares surged close to 7% in Tuesday’s trading session after the company announced the acquisition of the largest Haryanvi music catalogue from NAV Records Pvt Ltd, significantly expanding its footprint in the regional music segment.
Major boost to Saregama’s regional catalogue
The acquisition covers over 6,500 tracks across Haryanvi, Punjabi, Ghazals, Devotional, and Indie Pop genres. This strategic move also brings into Saregama’s fold the highly popular YouTube channels NAV Haryanvi and Nupur Audio, which together have more than 24 million subscribers. The newly acquired library includes multiple viral hits such as ‘Coco Cola’ (900 million views), ‘Parvati Boli Shakar Se’ (500 million views), and ‘Loot Liya’ (400 million views).
Market reaction and company strategy
Following the announcement, Saregama’s stock price rallied as much as 6.75% to reach ₹520 apiece and settled at a gain of 5.45% by mid-morning, vastly outperforming the broader market trend. This response comes as investors recognised the company’s push to cement its position as India’s leading entertainment IP company, particularly in regional segments where it had previously lacked dominance.
Industry leaders noted that the NAV Records catalogue is a major force in Haryanvi and Punjabi music, with its digital assets commanding significant reach and engagement. Saregama’s management announced plans to jointly develop new content with NAV Records, further expanding its influence in the regional music space.
Aggressive expansion
The NAV Records acquisition is part of Saregama’s broader strategy of expanding its music IP. In the current financial year, the company has acquired 22 music labels across seven languages, adding more than 2,800 songs to its portfolio. Company officials said that this most recent deal fills a crucial gap, making Saregama the dominant player across all Indian regional music genres.
Analyst outlook
Analysts tracking the stock maintain a positive view, with the majority issuing ‘buy’ recommendations and projecting further upside. Experts attribute this sentiment to both Saregama’s successful digital expansion and the scale of the NAV Records content library, which will deepen the company’s competitive moat in the online music and video streaming market.
