- Zee’s stock saw a 15% drop from August to October before rising by more than 12% last week.
- Because of his excellent execution, the market thinks Goenka’s return is positive.
- In Friday’s trading, ZEE Entertainment Enterprises Ltd (ZEEL) gained 1%.
Zee’s stock saw a 15% drop from August to October before rising by more than 12% last week. The rally was mainly caused by the SAT’s order, which overturned the SEBI ruling prohibiting Punit Goenka from being a KMP or Director of any listed company, including Zee.
Because of his excellent execution, the market thinks Goenka’s return is positive. To reduce the possibility of additional merger delays, this order permits Goenka to be named MD of the combined company.
Zee Entertainment
At a TP of Rs335/sh, the stock is trading at 8.4x Sep-25. Because of the merger, an extensive review is now in progress. In Friday’s trading, ZEE Entertainment Enterprises Ltd (ZEEL) gained 1%, achieving success for the sixth time in a row.
The SAT’s order, which overturned a Sebi decision that barred Punit Goenka from holding a KMP or directorial position in any listed company, including ZEEL, was what started the protest. Emkay Global thinks that Goenka’s return is beneficial because of his excellent execution abilities.
January 2024 is anticipated to see the merged company relist. Since it was first announced in September 2021, the merger has encountered several obstacles. Emkay Global keeps its target price of Rs 335 per share for the stock at ‘BUY’. Over the next two years, revenue growth of 9–10% is anticipated for the stock, along with margin improvement.
