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Zee Ent Shares Jumps 22% In 2 Weeks, Hits 52-Week High. Here Are All Key Details

Zee Ent share has rallied 22 per cent after Punit Goenka, MD at Zee Ent said that merger talks between the company and Sony Pictures Networks India (SPNI) are in the final stages.

Zee Ent Shares Jumps 22% In 2 Weeks, Hits 52-Week High. Here Are All Key Details
Zee Ent Shares Jumps 22% In 2 Weeks, Hits 52-Week High. Here Are All Key Details
outlookindia.com
2021-12-06T16:12:28+05:30

The shares of Zee Entertainment Enterprises hit a 52-week high of Rs 363.50, up 4 per cent on the BSE in Monday’s intra-day trade despite that Sensex plunged over 350 points, according to Business Standard.

The stock of Zee Ent quoted a 52-week high of Rs 362.85 and a 52-week low of Rs 166.8. The total market cap of Zee Ent stood at Rs 34386.46 crore so far, reported The Economic Times, citing BSE data.

In the past two weeks, the stock has rallied 22 per cent after after Punit Goenka, MD and CEO of Zee Ent said that merger talks between the company and Sony Pictures Networks India (SPNI) are in the final stages.

Zee Ent and SPNI had announced a merger in September of their India businesses with Sony holding the majority stake. About 53 per cent of the merged entity would be owned by Sony and the rest by Zee’s holders, according to the non-binding agreement signed in September. In past three months, the market price of Zee Ent more-than-doubled or up 102 per cent, against 1.4 per cent decline in the S&P BSE Sensex.

Zee Ent’s key financial details

The company reported consolidated net sales of Rs 2010.47 crore for the quarter ended 30-Sep-2021, up 11.16 per cent from the previous quarter's Rs 1808.56 crore and up 14.19 per cent from the year-ago quarter's Rs 1760.61 crore. The net profit for latest quarter stood at Rs 270.16 crore, up 187.19 per cent from the same quarter a year ago.

Shareholding pattern
As of 30-Sep-2021, domestic institutional investors held 7.26 per cent stake in the company, while foreign institutional investors held 57.18 per cent and the promoters 0.22 per cent.

Check what brokerage house/analysts are saying:

Emkay Global Financial Services

The brokerage house has maintained ‘buy’ rating on ZEEL with revised target price of Rs 415 (Rs 430 earlier).

Yes Securities

The brokerage house, couple of weeks back, had given a buy call on Zee Entertainment Enterprises with a target price of Rs 375.

Geojit

Some weeks back, the investment firm had given a buy call on Zee Ent with a target price of Rs 389.

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