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Buy Zee Entertainment Enterprises: target of Rs 400: Sharekhan

Buy Zee Entertainment Enterprises: target of Rs 400: Sharekhan
December 23
15:24 2021

Sharekhan is bullish on Zee Entertainment Enterprises has recommended buy rating on the stock with a target price of Rs 400 in its research report dated December 22, 2021.

Broker Research

December 23, 2021 / 02:05 PM IST

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Sharekhan’s research report on Zee Entertainment Enterprises

ZEEL and SPNI have signed the binding agreement to merge themselves. The deal structure remains in-line with the earlier announcement, where SPNI will hold 50.86% stake of the merged entity. This would likely strengthen the combined entity’s market position and create a scalable business proposition for the OTT business. Management expects synergy benefits of 6-8%, largely from revenue. ZEEL’s promotors have option to increase their stake from 3.99% to 20%. The stake’s purchase must be from the open market, which would address investor concerns.

Outlook

We maintain Buy with an unchanged PT of Rs. 400. Growth capital would be used to accelerate its OTT, movies, and premier content including sports rights.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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