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Zee Entertainment Enterprises share price gained almost 2 percent intraday on December 9 after CLSA retained the "buy" call on the stock with a target of Rs 280 per share.
With advertisement spending and viewership bouncing back, the stock offered value at current levels, CNBC-TV18 reported the global research firm as saying.
The gains coincide with sharp ad spending recovery. Top 10 advertisers' ad insertions had recovered to all-time highs.
The stock was trading at Rs 216.50, up Rs 3.95, or 1.86 percent, at 1154 hours. It touched an intraday high of Rs 220 and an intraday low of Rs 213.75.
The company reported a consolidated net profit of Rs 93.41crore for the second quarter ended September. It posted a net profit of Rs 412.09 crore in the year-ago period, the company said in a filing to the BSE.
Its revenue from advertisement stood at Rs 902.79 crore in the September quarter. Its subscription revenue was Rs 800.29 crore against Rs 723.50 crore in the same period a year ago.
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