Buy Zee Entertainment Enterprises, target price Rs 370: Yes Securities

Yes Securities has buy call on Zee Entertainment Enterprises Ltd. with a target price of Rs 370. The current market price of Zee Entertainment Enterprises Ltd. is Rs 317.25.

Time period given by analyst is Intra Day when Zee Entertainment Enterprises Ltd. price can reach defined target. .

Zee Entertainment Enterprises Ltd., incorporated in the year 1982, is a Large Cap company (having a market cap of Rs 30448.35 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.


Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 1808.56 Crore, down -8.86 % from last quarter Total Income of Rs 1984.39 Crore and up 35.13 % from last year same quarter Total Income of Rs 1338.41 Crore. Company reported net profit after tax of Rs 208.77 Crore in latest quarter.

Investment Rationale
The stock has broken out a sideways consolidation on good volumes triggering resumption of the uptrend. Further, RSI has also turned upwards after taking support at the 60 level after formation of a positive reversal pattern suggesting strength.

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.