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    ZEEL   INE256A01028

ZEE ENTERTAINMENT ENTERPRISES LIMITED

(ZEEL)
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Indian shares end flat as private banks drag; media stocks surge

09/22/2021 | 06:52am EDT

BENGALURU, Sept 22 (Reuters) - Indian shares ended flat on Wednesday as major private bank stocks slipped and offset sharp gains in Coal India, while media firms soared on news of Zee Entertainment merging with a rival.

The blue-chip NSE Nifty 50 index closed 0.09% lower at 17,546.65, while the S&P BSE Sensex fell 0.13% to 58,927.33.

Investors also awaited the results of a two-day U.S. Federal Reserve meeting later in the day, where the central bank is expected to give cues on a possible tapering of its bond buying program.

An indication of tapering would likely impact the market and "suck out some liquidity", said K.K. Mittal, an investment advisor with Venus India.

Private banks fell 0.7%, erasing gains from the previous session, with Housing Development Finance Corp shedding more than 1% to be among the biggest losers on the Nifty 50.

Media stocks posted their best day ever as Zee Entertainment surged 39% on its board approval for a merger with Sony Group Corp's Indian unit, a week after the Indian media giant's top shareholders had asked for a management reshuffle.

Real estate stocks jumped 8.5%, with Godrej Properties adding 13.2% to lead the charge in the sector.

Analysts have said signs of improving sales on easing COVID-19 restrictions is helping sentiment, with a rise in large asset purchases expected during the upcoming festive season.

Auto stocks ended 1.3% higher, as analysts pointed to similar factors aiding gains in the sector.

Consumer stocks fell, with Nestle India dropping nearly 1.5% to be the top loser on the Nifty 50. On Tuesday, the company's chairman told https://economictimes.indiatimes.com/industry/cons-products/fmcg/unsure-if-demand-will-stay-inflation-a-concern-for-2022-nestle-india-chairman-suresh-narayanan/articleshow/86386070.cms local media there were no sure signs that sustained consumption is here to stay. (Reporting by Soumyajit Saha in Bengaluru; Editing by Ramakrishnan M.)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
COAL INDIA LIMITED 0.55% 175.05 Delayed Quote.28.53%
GODREJ PROPERTIES LIMITED 2.89% 2345.25 Delayed Quote.59.16%
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 0.53% 2911.55 End-of-day quote.13.79%
NESTLÉ INDIA LIMITED 2.79% 19214.1 End-of-day quote.4.47%
SONY GROUP CORPORATION 2.64% 13410 End-of-day quote.30.38%
ZEE ENTERTAINMENT ENTERPRISES LIMITED 4.30% 317.5 Delayed Quote.36.20%
All news about ZEE ENTERTAINMENT ENTERPRISES LIMITED
06:53aIndian court restrains Invesco from calling shareholders meeting in win for Zee
RE
04:35aIndia's Zee cancels board meeting on quarterly results
RE
04:10aREQUISITIONING A SHAREHOLDERS' MEETI : The Unfolding Events Relating To Zee Entertainment ..
AQ
10/22Punit Goenka Files an Affidavit in the National Company Law Tribunal
CI
10/21Indian court proposes Zee call shareholder meeting in win for Invesco
RE
10/15Zee Entertainment Enterprises Provides Information to Shareholder
CI
10/14India's Zee accuses Invesco of double standards in Sony merger
RE
10/14Fight with Invesco is to preserve company, CEO of India's Zee says
RE
10/13Reliance Confirms Approaching Zee
CI
10/13Invesco Rejects Zee Entertainment Allegation of Pushing Indian Group's Deal
CI
More news
Financials
Sales 2022 83 589 M 1 115 M 1 115 M
Net income 2022 13 120 M 175 M 175 M
Net cash 2022 19 239 M 257 M 257 M
P/E ratio 2022 22,8x
Yield 2022 1,17%
Capitalization 298 B 3 978 M 3 982 M
EV / Sales 2022 3,34x
EV / Sales 2023 2,93x
Nbr of Employees 3 338
Free-Float 27,4%
Chart ZEE ENTERTAINMENT ENTERPRISES LIMITED
Duration : Period :
Zee Entertainment Enterprises Limited Technical Analysis Chart | ZEEL | INE256A01028 | MarketScreener
Technical analysis trends ZEE ENTERTAINMENT ENTERPRISES LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 18
Last Close Price 317,50 INR
Average target price 352,00 INR
Spread / Average Target 10,9%
EPS Revisions
Managers and Directors
Punit Subhash C. Goenka Chief Executive Officer, Executive Director & MD
Rohit Kumar Gupta Chief Financial Officer
Rajarangamani Gopalan Chairman
Nitin Mittal President-Technology & Data
Sachin Rumde Head-Operations
Sector and Competitors
1st jan.Capi. (M$)
ZEE ENTERTAINMENT ENTERPRISES LIMITED36.20%3 897
FOX CORPORATION43.65%23 223
DISCOVERY, INC.-15.95%16 517
RTL GROUP S.A.23.70%8 764
NEXSTAR MEDIA GROUP, INC.39.00%6 344
TEGNA INC.47.17%4 473