Zee Entertainment: Stock of the day, brokerage bet on management coup, upgrade stock | Editorji
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Zee Entertainment: Stock of the day, brokerage bet on management coup, upgrade stock

Sep 14, 2021 11:55 IST | By Editorji News Desk

Zee Entertainment, the management may be on it's way out but the bulls are moving it. The stock locked up in upper circuit has gained the most in 18 months, the volumes is also over 30 times it's 20 day average. 

What has happened with Zee Entertainment?

Shareholder activism triggers re-rating with brokerages as well as Invesco, the largest shareholder of Zee with a 17.9% stake, has sought an Extraordinary General Meeting to remove three directors including Mr Punit Goenka (MD & CEO) and to appoint six independent directors. 

Also Read: Stock rallies 15% as shareholders want to throw out MD & board members at today's meet

What are brokerages saying on Zee Entertainment?

Kotak says weighs in on Zee Entertainment says irrespective of how this plays out, they expect a re-rating and have upgraded Zee to BUY, and revised the fair value of the stock to Rs 250/share. 

Zee Entertainment: Stock of the day, brokerage bet on management coup, upgrade stock

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