Zee Entertainment Enterprises Ltd., incorporated in the year 1982, is a Large Cap company (having a market cap of Rs 18177.55 Crore) operating in Media & Entertainment sector.
Shutterstock.comPromoters held 4 per cent stake in the company as of Sept 30, 2020, while FIIs held 66.2 per cent, DIIs 11.1 per cent and public and others 18.6 per cent.
Edelweiss has given a buy rating to Zee Entertainment with a target price of Rs 299. The share price moved up by 0.42 per cent from its previous close of Rs 188.35. The stock’s last traded price is Rs 189.15.
Zee Entertainment Enterprises Ltd., incorporated in the year 1982, is a Large Cap company (having a market cap of Rs 18177.55 Crore) operating in Media & Entertainment sector.
Financials For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 1722.70 Crore, up 31.30 % from last quarter Sales of Rs 1312.03 Crore and down -18.82 % from last year same quarter Sales of Rs 2122.01 Crore. Company reported net profit after tax of Rs 93.33 Crore in latest quarter.
Investment Rationale The brokerage anticipates market share recovery given the launch of new content and moderation in the competitive landscape bode well for the business. It maintains ‘BUY/SP’ with a TP of INR299 (16x FY22E EPS). The stock is trading at 10x FY22E EPS.
Promoter/FII Holdings Promoters held 4 per cent stake in the company as of Sept 30, 2020, while FIIs held 66.2 per cent, DIIs 11.1 per cent and public and others 18.6 per cent.
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