ZEE may see a sharp de-rating in P/E valuation of its broadcasting business to at least 10 times one-year forward or lower, due to the unfinished merger, as linear TV growth has converged sharply, said Elara Securties.
ZEE-Sony merger faced multiple roadblocks since it was first announced in September 2021. Post approval from the stock exchanges in July 2021, the CCI granted its approval to the merger in October 2022.
Bajaj Auto, Wipro, LTIMindtree Q2 results, IRM Energy IPO to open for subscription in Top News on October 18: Share markets, Nifty, Bank Nifty, gold, crude oil outlook, banks closed in Assam on Kati Bihu, Samsung Galaxy A05s India launch, daily petrol and diesel rates also in focus in top stories today.
BofA has a buy view on the Zomato counter for a price target of Rs 110. It sees momentum remaining strong with a clutch of catalysts likely helping the company to further get a re-rating. The platform fee, World Cup and Swiggy IPO re-rating could be the likely triggers. Blinkit shareholder lock in expiry opens August 5
ZEEL was under the scanner of the Securities and Exchange Board of India (Sebi) for alleged delay in disclosing invocation of pledged shares during the period January 1, 2019 to December 26, 2019.