Zee Entertainment may hit Rs 420: Sacchitanand Uttekar

Sacchitanand Uttekar of Motilal Oswal Financial Services told CNBC-TV18, "The entire media pack has been outperforming for a very long time now. The sector has entered into the reading space in some of our sector rotation model. Even right now if you look at the recent breakout which has happened today, it is indicating that the momentum could continue from here on as well. We expect Zee Entertainment Enterprises to scale up right up to Rs 420 and the stock can be participated with a stop loss of around Rs 374."At 13:19 hrs Zee Entertainment Enterprises was quoting at Rs 388.10, up Rs 9.35, or 2.47 percent. It has touched an intraday high of Rs 388.25 and an intraday low of Rs 378.40.