ICICI Direct's research report on Zee Entertainment
Zee Entertainment (Zee) is one of the largest listed media companies in India, which owns and operates a bouquet of 49 TV channels across 11 languages and also an OTT app Zee5. The company’s TV network viewership share was at 16.1% in Q1FY23 (17.1% in Q4FY22), due to pull-out of Zee Anmol from free to air (FTA).
Outlook
We marginally cut our earnings estimates and target price but maintain BUY. Strong ad recovery from H2 and likely merger consummation with no visible impediment, remain key triggers. We value Zee at Rs 300, at 20x FY24 P/E.
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.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
