Zee Entertainment Enterprises saw a nearly 6 per cent increase in its shares on Friday as promoters acquired 27 lakh shares from the open market, raising their total stake from 3.99 per cent to 4.28 per cent. The stock closed at ₹103.89 on the BSE.
Nuvama Institutional Equities viewed this development positively, stating that the acquisition indicates a belief in the company’s long-term prospects and growth potential. This move is likely to boost confidence among minority investors. The brokerage also highlighted Zee’s focus on four key verticals – linear, digital, movie, and music, while also exploring opportunities in gaming.
Nuvama has a buy rating on Zee with a target price of ₹185. The report emphasized the company’s robust subscription revenue and projected improvements in ad spends for FY26, driven by urban demand recovery and higher gross margins for FMCG products.
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