ZEE Entertainment Trend AnalysisIndia's largest television network with a presence across 170 nations catering to 1 bn+ people.
Sony Pictures Networks India Private Limited & ZEEL merger is expected to be completed by end of 2023.
Fundamentals of recent quarters might look shady but post covid the entire industry was affected due to lack of content. Also with consistent revenue the net profit was lowest in FY 2022-23. That is only because of reduced OPM and repayment of defaulted loans availed by Siti Networks since ZEEL was the corporate guarantor.
Around 79.5% shareholding is with institutions.
Currently price is taking support at key support level at 177.
If it breaks, price can fall further towards trendline support around 135. I hope this should not happen.
Technically the broader price pattern looks like a cycle degree wxy correction as illustrated in this chart.
In that case the possible target is 600+ (near all time high), which also makes sense as it can form a W pattern as per the conventional technical analysis.
Around 230% ROI from CMP in about 2 years worth a positional trade in this stock.
I have linked my previous chart at the bottom to check the short and mid term targets.
Kindly do your own due diligence before taking any action.
Peace!!
