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Buy Zee Entertainment, target of Rs 320: Religare
Religare has maintained its buy rating on Zee Entertainment Enterprises with a target price of Rs 320. ZEEL plans to make a major foray into movie production and distribution through a subsidiary ‘Zee Entertainment Studios (ZES)’. It also plans to demerge Zee Next. It plans to raise money in these businesses.
Religare has maintained its buy rating on Zee Entertainment Enterprises with a target price of Rs 320 in its June 18, 2008 research report. "ZEEL plans to make a major foray into movie production and distribution through a subsidiary 'Zee Entertainment Studios (ZES)'. It also plans to demerge Zee Next. It plans to raise money in these businesses. We will change our numbers post a formal announcement of the new structure (expected in the next 2-3 weeks). ZEEL looks very attractive at current valuations and the recent outperformance will continue. We maintain our BUY recommendation," says Religare's research report.
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