Saturday, December 16, 2017

Zee Entertainment: Maintain 'buy' with a TP of Rs 690

We estimate 15% CAGR in ZEE's ex-Sports ad revenue over FY17-20, ahead of KPMG's estimate of 14% CAGR for the industry. ZEE's subscription revenue has strong growth potential on the back of (a) digitisation, (b) new tariff order, (c) ARPU increase, and (d) improving TV penetration. Recent results ...

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