Wednesday 12 November 2008

Accumulate Zee Entertainment: KRChoksey

KRChoksey has recommended an accumulate rating on Zee Entertainment in its report. "Zee Next has made losses of Rs 8.2 core in this quarter. The company is formulating a revised strategy for the channel and has therefore bought the channel under maintenance mode. Management has maintained its guideline of topline to grow by 30% and bottom-line by 25-30% (despite losses from Zee Next) in FY09. Zee entertainment would be launching 2-3 new programs in the coming months to compete with new channels, especially Colors which has become a direct challenger to Zee Entertainment’s no 2 spot in GEC. At CMP of Rs 145, the stock is trading at 11.6x TTM EPS of Rs 12.5. We recommend the investors to ACCUMULATE the stock at these levels," says KRChoksey's research report.

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Source: Moneycontrol

Posted by Harsh at 09:31

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