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Zee Ltd                                         Buy

CMP: ` 414.90 (As on 29th Apr, 2016)                 Zee Entertainment Enterprises Ltd is one of India’s
Target Price : ` 441-453                             leading television, media and entertainment
Buy : > ` 422                                        companies. The company is amongst the largest
Stop-Loss: ` 410                                     producers and aggregators of Hindi programming
                                                     in the world, with more than 1 lac hours of original
                                      Zee Ltd.       programming in its archives. It has presence in
                                                     nearly 169 countries catering to more than 67 crore
                                                     viewers. The company holds rights to approximately
                                                     3,500 movie titles. The company's offerings also
                                                     include a bouquet of around 33 domestic channels.
                                                     The Company derives revenue mainly from
                                                     advertisements and subscription. The Group also
                                                     generates revenue through sale of television programs
                                                     and movie distributions. Pioneer of television
                                                     entertainment industry in India, ZEE's well known
                                                     brands includes Zee TV, Zee Cinema, Zee Premier, Zee
                                                     Classic, Zee News and Ten sports.

                                                     Technical Outlook:

                                                     On the daily chart, the stock is on the verge of giving a
                                                     downward trendline breakout. Further the momentum
                                                     indicators are gaining momentum. This suggests
                                                     upside in this counter.

                                                     Hence we recommend buying the stock above Rs 422
                                                     with a stop loss of Rs 410 for a target of Rs 441 - 453

                                                                                     4 ARIHANT CAPITAL ¡ MAY 2016
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