Buy Zee Entertainment Enterprises, target price Rs 365: Motilal Oswal

Chandan Taparia of Motilal Oswal Securities has a buy call on Zee Entertainment Enterprises Ltd. with a target price of Rs 365. The current price of Zee Entertainment Enterprises Ltd. is Rs 341.55. Chandan Taparia recommends to keep a stoploss at Rs 330.

Zee Entertainment Enterprises Ltd., incorporated in the year 1982, is a Large-Cap company (with a market cap of Rs 32767.99 Crore) operating in Media & Entertainment sector.

Zee Entertainment Enterprises Ltd. key Products/Revenue Segments include Income From Advertisement, Subscription Income, Television Content, Transmission Revenue, Other Operating Revenue and Commission for the year ending 31-Mar-2021.


Investment Rationale
The stock is trending upwards with increased volumes and making higher highs from the last three weeks.

Financials
For the quarter ended 30-09-2021, the company has reported a Consolidated Total Income of Rs 2010.47 Crore, up 11.16 % from last quarter Total Income of Rs 1808.56 Crore and up 14.19 % from last year same quarter Total Income of Rs 1760.61 Crore. Company has reported net profit after tax of Rs 266.04 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 3.99 per cent stake in the company as of 30-Sep-2021, while FIIs owned 57.18 per cent, DIIs 15.98 per cent.