Get App
Last Updated : May 06, 2020 09:03 AM IST | Source:

Hold Zee Entertainment; target of Rs 150: ICICI Direct

ICICI Direct recommended Hold rating on Zee Entertainment with a target price of Rs 150 in its research report dated April 15, 2020.

Broker Research @moneycontrolcom
  • bselive
  • nselive
Todays L/H

ICICI Direct's research report on Zee Entertainment

Zee Entertainment has announced that it will invest Rs 522 crore in its subsidiary, Margo Networks (80% holding), which operates under brand name SugarBox over the next couple of years. SugarBox operates in the content delivery network and telecommunications industry. It provides content distribution services at places of interest (POIs) such as public transport, rural areas, public places, hospitality and residential areas by installing necessary infrastructure. The customers can use the services available through SugarBox platform even without access to the internet.


Hence, we remain cautious on the SugarBox investment by Zee Entertainment. Zee’s inventory and related party receivables remain high. We maintain HOLD with a target price of Rs 150, valuing it at 8x FY22E P/E.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Moneycontrol Ready Reckoner
Now that payment deadlines have been relaxed due to COVID-19, the Moneycontrol Ready Reckoner will help keep your date with insurance premiums, tax-saving investments and EMIs, among others.
Get best insights into Options Trading. Join the webinar by Mr. Vishal B Malkan on May 28 only on Moneycontrol. Register Now!

First Published on May 6, 2020 09:03 am
Follow us on