ZEE Shares Plummet 29.98% to Fresh 52-Week Low of Rs 162.25 on BSE, Following a 30% Decline from Friday’s Closing of Rs 231.75
ZEE Entertainment Faces Market Turmoil: Shares Plunge, Hit Multiple Lower Circuits After Sony Deal Termination. Broking Firms Turn Bearish, Slashing Target Prices up to 50%. Stock Dips 29.98% to Fresh 52-Week Low of Rs 162.25 from Friday’s Close of Rs 231.75. Analyst Targets Now Hover Between Rs 170-200 Range.
ZEE Shares Tumble 30% as Brokers Slash Target Prices Amid Sony Deal Developments
Selling Surge in ZEE Shares: High Volumes Witnessed as 10,52,31,549 ZEE Shares Worth Rs 1,761 Crore Change Hands by 12.20 pm. The significant drop in stock price, coupled with the substantial trading volume, signals a bearish sentiment. ZEE, in a filing to BSE, states failure to reach consensus with Culver Max, BEPL on pending conditions precedent. ZEE’s MD & CEO Punit Goenka expresses willingness to step down for the merger’s interest.
CLSA Reduces ZEE’s Price Target to Rs 198 from Rs 300, Citing Intensified Competition Post Reliance and Disney Star Merger. Elara Downgrades ZEE to Sell with Revised March 2025E Target of Rs 170 (from Rs 340), and Potential Drop to Rs 130 If Disney Contract is Not Honored. Possibility of Another Strategic Partner Buying Majority Stake Could Impact Valuation Multiple, Providing Potential Respite.
Emky Global Reacts to ZEE’s Breakdown: Foresees Shareholder Activism and Potential Suitors. Downgrades Stock to SELL, Citing Weak Competitive Positioning and Escalated Corporate Governance Issues. Targets Rs 175 at 8 Times Dec-25E SA Broadcasting Ebitda (Down from Rs 315).
