Should You Buy, Sell Or Hold Zee Stock After The Recent Plunge?

Last week the stock of Zee dived to a new 52-week low of Rs 176.60 on the BSE. We have not seen these levels in the Zee stock, not at least after the covid era. The stock in fact has a 52-week high of Rs 308, which means at the current market price of Rs 195, we have been seeing a massive fall.
In its order, NCLT allowed IndusInd Bank to admit the company under Corporate Insolvency Resolution Process.

Later, in a huge relief for Zee Entertainment Enterprises Ltd, the National Company Law Appellate Tribunal stayed the order directing for initiation of insolvency proceedings against Zee. The move came after NCLAT heard plea of Punit Goenka, chief executive of Zee, challenging insolvency proceedings against the company.

Should you now buy, sell or hold the stock of Zee Entertainment Enterprises?

Broking firm Prabhudas Lilladher has a "buy" call on the stock with a price target of Rs 277, which is significantly higher than the current market price of Rs 195.

"We retain BUY on the stock with a target of Rs 277 (21x Sep-24 EPS). However, given there are concerns over delay in merger time-line (primary premise of our BUY call) the stock can be under pressure in near term," the brokerage has said. Several brokerage have a "buy" call on the stock and see upside. We do not have any recommendations on the stock, as we avoid placing any recommendations on stocks and largely go with published brokerage reports. Broking firm Geojit too had a buy call on the stock with a price target that was much lower than that of Prabhudas Lilladher. The broking firm has a price target of Rs 239 on the stock.

Disclaimer

The stock have been picked from the brokerage report of Prabhudas Lilladher and Geojit. Greynium Information Technologies, the Author, and the respective Brokerage house are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to consult with certified experts before making any investment decision.