Zee Entertainment shares recover after sell-off

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Zee Entertainment shares recover after sell-off
ET Bureau
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Synopsis

​​Prabhudas Lilladher retained its 'buy' rating but said the stock will witness selling pressure in the near term owing to concerns over delay in merger time-line.

Zee
Prabhudas Lilladher retained its 'buy' rating but said the stock will witness selling pressure in the near term owing to concerns over delay in merger time-line.
Mumbai: Traders created fresh bearish bets on Zee Entertainment Enterprises (ZEE) on Thursday as its shares tanked as much as 14% during the day on worries its impending merger with Sony could be delayed.

The stock cut a chunk of its losses before closing at ₹199.20, down 3.46% from the previous close.

UBS Securities (India) has maintained its buy rating and price target of ₹350 on the stock.

Prabhudas Lilladher retained its 'buy' rating but said the stock will witness selling pressure in the near term owing to concerns over delay in merger time-line.


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