Buy Zee Entertainment Enterprises, target price Rs 204.8 : ICICI Direct

ICICI Direct has buy call on Zee Entertainment Enterprises with a target price of Rs 204.8. The current market price of Zee Entertainment Enterprises is Rs 197.4. Time period given by analyst is Intra Day when Zee Entertainment Enterprises price can reach defined target. ICICI Direct recommended to keep stop loss at Rs 198.9.

Zee Entertainment Enterprises, incorporated in the year 1982, is a Large Cap company (having a market cap of Rs 19018.28 Crore) operating in Media & Entertainment sector.

Zee Entertainment Enterprises key Products/Revenue Segments include Income From Advertisement, Subscription Income, Theatrical Exhibition, Television Content, Transmission Revenue, Commission and Other Operating Revenue for the year ending 31-Mar-2022.

Financials
For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 2126.35 Crore, down -.04 % from last quarter Total Income of Rs 2127.23 Crore and down -9.95 % from last year same quarter Total Income of Rs 2361.17 Crore. Company has reported net profit after tax of Rs -196.12 Crore in latest quarter.

The company’s top management includes Dr.Subhash Chandra, Mr.R Gopalan, Mr.Punit Goenka, Mr.Piyush Pandey, Mr.Adesh Kumar Gupta, Mr.Alicia Yi, Mr.Sasha Mirchandani, Mr.Vivek Mehra. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-03-2023, the company has a total of 96 Crore shares outstanding.

Investment Rationale
Falling trendline breakout and sustaining above 20 days EMA signaling further upsides in coming sessions.
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Promoter/FII Holdings
Promoters held 3.99 per cent stake in the company as of 31-Mar-2023, while FIIs owned 36.39 per cent, DIIs 38.03 per cent.