Zee Entertainment’s share price faced volatility amid the terminated Sony merger.
From peaks in 2021 to a 52-week low, legal battles impacted prices. Analysts vary, suggesting caution in a dynamic market.
Zee Entertainment Share Price
Zee Entertainment is an Indian company that started working on November 25,
1982. It provides several services, like broadcasting satellite television channels,
space-selling agents for other satellite television channels, and selling media content, i.e.,
programs, film rights, feeds, and music rights. Its market capitalization is 24,935 crore as of
January 10, 2024. its headquarters in Mumbai. It operates worldwide through 45 channels.
which makes it unique compared to others. Its current CEO is Punit Goenka.
Zee Entertainment Share Price live
When we talk about share price, on Tuesday, the Indian share market boosted and rose in the energy of stocks.
But its share price fell, and Japan’s Sony scrapped the plan of a $10 billion merger of its India unit with Broadcast.
Its current share price is 160.90 at 5:00 p.m.; from there, it is down 30.47 percent from the previous close.
Zee stocks came to light on Tuesday when the first trading session announced the proposed Zee-Sony merger deal was terminated.
Zee Entertainment Share Price History
When we analyzed last month’s share price details, Zee stock dropped 15% and gained 1% on
the nifty index due to uncertainties related to the unsuccessful merger. After the deal announcement in December 2021,
Zee shares surged from around Rs 170 to about Rs 370. Sony first proposed to combine its Indian entertainment business with Zee in December 2021.
- Zee stock tumbled 29.98% on Monday, closing at Rs 162.25, a fresh 52-week low. This comes after a significant high of Rs 299.50 in December.
- The termination of the merger deal with Sony Pictures Entertainment significantly impacted the stock price.
- Sony seeks USD 90 million for alleged breaches of the agreement and “conjuring intervention,” while ZEEL plans to challenge this claim legally.
- ZEEL incurred Rs 366.59 crore on compliances related to the proposed merger till September 2023.
Zee Entertainment Share Price Prediction
Zee Entertainment’s stock price average target is 294.43. It represents an upside of 87.36% compared to
the last price of 157.15. It is given -9.65% this year and -1.17% in the last 5 days.
After analysis of the overall record, analysts have focused on strong buy ratings.
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Zee Entertainment Share Price Investing
If you are thinking of investing your money in Zee Entertainment Stock, you have to invest Rs. 160.90 per share.
This value is the share’s current value; it is changeable according to time. This value may increase or decrease depending on market value.
Zee Entertainment Share Price Analysis
- ZEEL and Sony’s $10-billion merger, announced in September 2021, faced a rollercoaster of events.
- Sony terminated the deal in January 2024, marking the end of over two years of negotiations.
- September 22, 2021: Merger announced, ZEEL’s share prices soared from Rs 257 to Rs 362 within 48 hours.
- Legal battles and insolvency concerns led to a decline to Rs 240 per share by December 2022.
- June 2023: SEBI’s verdict and NCLT’s approval caused share prices to drop to Rs 174.2.
- August 10, 2023: NCLT approved the merger, and shares peaked at Rs 290.
- September 2023: Sony Group’s merger delay announcement dropped share prices to Rs 255.
- October 2023: SAT’s decision led to a 3% rise, reaching Rs 258 per share by December 18.
- Last week’s media report on merger discussions boosted shares by over 7%.
- ZEE CEO Punit Goenka’s offer to step down for the merged entity
Zee Entertainment Share Price: Broker Recommendations and Targets Analysis
- ZEEL Share Price Motilal Oswal:
- Target Price: Rs 200.00
- Percentage Change: -32.61%
- Recommendation: Neutral
- ZEEL Share Price Keynote Capitals Ltd (13 Nov 2023):
- Target Price: Rs 290.00
- Percentage Change: -38.14%
- Recommendation: Buy
- ZEEL Share Price Prabhudas Lilladhar (10 Nov 2023):
- Target Price: Rs 314.00
- Percentage Change: -37.36%
- Recommendation: Buy
- ZEEL Share Price Motilal Oswal (29 Aug 2023):
- Target Price: Rs 320.00
- Percentage Change: -41.14%
- Recommendation: Buy
- ZEEL Share Price Geojit BNP Paribas (21 Aug 2023):
- Target Price: Rs 312.00
- Percentage Change: -42.48%
- Recommendation: Buy
- ZEEL Share Price Keynote Capitals Ltd (11 Aug 2023):
- Target Price: Rs 317.00
- Percentage Change: -42.43%
- Recommendation: Buy
- ZEEL Share Price Sharekhan (10 Aug 2023):
- Target Price: Rs 350.00
- Percentage Change: -42.54%
- Recommendation: Buy
- ZEEL Share Price ICICI Securities Limited (10 Aug 2023):
- Target Price: Rs 255.00
- Percentage Change: -35.62%
- Recommendation: Accumulate
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Conclusion
The share market is a field where companies are gaining and losing by using their marketing strategy.
This article is a current review of Zee Entertainment’s share prices.
In this article, all the data is taken from stock market news sites, and it can fluctuate according to time.
if you have any suggestions regarding this article, kindly drop your comments in the comment box.
FAQ:
Why is Zee Entertainment’s share price down?
Zee shares plunged by 32.73%. After this announcement, brokerages downgraded the stocks.
