Zee Entertainment: More upside after the sharp rally?
Zee Entertainment is the original pioneer of India's cable TV business and its merger with Sony would create the biggest entity in the broadcasting space
September 24, 2021 / 09:09 AM IST
ZEEL | Representative image
PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook
Zee Entertainment Enterprises Ltd (ZEEL) has announced a merger with Sony Pictures Network India (SPNI). The combined entity would be the largest in the Indian media and entertainment space, with a bouquet of 75 channels and combined revenue of around $2 billion.
We had pointed out, in our September 14 note, the possibility of a potential stake sale by Zee Entertainment to a big name in the media industry, which has now played out. Consequently, the company’s share price jumped 31.7...