 "Zee Entertainment hits multi-year high ahead of Q2 results")
Zee Entertainment Enterprises has moved higher by over 5% to Rs 330, its highest level since May 2000 on BSE, ahead of its July-September quarter (Q2) earnings today.
The stock opened at Rs 311 and has seen a combined 2.33 million shares changing hands on the counter till noon deals on BSE and NSE.
Analyst at Kotak Securities expects that Zee Entertainment shall continue to lead industry growth in advertising, as the company's ratings performance has continued to be robust.
“We model for 15% y/y growth in advertising and 12% growth in revenues from operations. We expect margins to register an expansion of 1.7 ppt, on contained growth in content as well as other expenses. PAT is likely to be flat on lower other income and higher tax rate,” analyst said in a results preview.
According to broking firm Sharekhan “Zee Entertainment Enterprises is well placed to benefit from the ongoing digitisation theme and the overall recovery in the macro economy. Also, the phase-wise rate hikes in the channel rates would augur well for the subscription revenues. We maintain our Buy rating on the stock with a price target of Rs 367.”
The stock opened at Rs 311 and has seen a combined 2.33 million shares changing hands on the counter till noon deals on BSE and NSE.
Analyst at Kotak Securities expects that Zee Entertainment shall continue to lead industry growth in advertising, as the company's ratings performance has continued to be robust.
“We model for 15% y/y growth in advertising and 12% growth in revenues from operations. We expect margins to register an expansion of 1.7 ppt, on contained growth in content as well as other expenses. PAT is likely to be flat on lower other income and higher tax rate,” analyst said in a results preview.
According to broking firm Sharekhan “Zee Entertainment Enterprises is well placed to benefit from the ongoing digitisation theme and the overall recovery in the macro economy. Also, the phase-wise rate hikes in the channel rates would augur well for the subscription revenues. We maintain our Buy rating on the stock with a price target of Rs 367.”
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