Shares of the Indian media house fell 34% on Tuesday, while investors shrugged off the impact on the $124 billion Japanese media and technology giant Sony.
ZEEL-IN 1Y mountain What are analysts saying about Zee shares, moving forward?
Citi sharply slashed its price target on Zee's stock from 340 Indian rupees to 180 Indian rupees.
Zee has not stated whether it will pursue the merger while the litigation with Sony could hinder improvements in operations or explore a merger with other players," the analysts added.
Similarly, Elara analysts added, "Possibility of any other strategic/financial partner buying majority stake in Zee could provide respite to valuation multiples."
Persons:
Motilal Oswal, Zee, Motilal, Aliasgar Shakir, Karan Taurani, Pulkit Chawla, Emkay, Zee's, Punit Goenka, Chawla
Organizations:
Zee Entertainment, Sony, Zee, Citi, Wall, Reliance, Disney Star India, Motilal Oswal, Star, Disney, Netflix, Amazon Prime, Reliance Industries, Media, Elara, RIL, Zee Management, Quintillion Business Media, Bloomberg News, NDTV
Locations:
India, Zee