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Entry Price

11.00

Target

14.00

Recommend Date

08-08-2019

Return

27.27 %
BUY

Date : 08-08-2019

Zee Media Corporation, with flagship Hindi news channel Zee News, has witnessed mixed fortunes. On the one hand, they have reported strong a financial performance with industry leading ad growth in news segment. However, on the other hand, they faced the brunt of issues related to promoter’s debt pile up in non-media business and their intended preference towards other group companies in terms of release of pledged shares. Furthermore, possible complete write-offs of advances given to Diligent Media is making it worse. We believe operationally the company is on the right path and expected to continue its strong momentum on advertisement revenue, profitability. The concerns overshadow the near to medium term outlook.