Shares of Zee Entertainment Enterprises rose 4 per cent on Friday after promoters purchased 27 lakh shares from open market, increasing total stake to 4.28 per cent from 3.99 per cent earlier.
Nuvama Institutional Equities acknowledged this as a positive indicator for the company. “The quantum of acquisition shows belief in the long-term prospects and growth potential of the company. This shall boost the confidence of minority investors,” the brokerage said.
Stressing Zee’s four focus verticals being linear, digital, movie, and music, Nuvama added that gaming is a big opportunity which the company is evaluating.
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The brokerage has a buy on Zee at a target price of ₹185. The report highlighted Zee’s strong subscription revenue and added that the ad spends shall improve in FY26 led by urban demand recovery and higher gross margin for FMCG.
Zee shares soared 4.13 per cent on the NSE to trade at ₹102.23 as at 12.35 pm.
