rockingpawan

[rockingpawan]

What should investors do with Zee Entertainment post Q4 results: buy, sell or hold?

Zee Entertainment Enterprises (ZEE) share price rose 4 percent in the early trade on May 21, a day after the company reported a consolidated profit of Rs 275.8 crore for the March 2021 quarter, driven by strong operating performance. The company had reported a loss of Rs 766.7 crore in the same quarter last year.The company's consolidated revenue increased 0.8 percent year-on-year to Rs 1,965.8 crore in Q4FY21, with advertisement revenue growing 8.1 percent to Rs 1,122.96 crore and subscription revenue rising 8.4 percent to Rs 803.35 crore.Also Read - Zee Entertainment Q4 result: Profit at Rs 275.8 crore on strong operating performanceHere is what brokerages have to say about the stock and the company after the March quarter earnings announcement:CLSA | Rating: Buy | Target: Rs 306The Q4 was ahead of estimates and ad revenue was up 9 percent YoY. The company will see a rapid recovery in ad revenue if lockdowns are not extended. The balance-sheet cash has increased to Rs 1,860 crore from Rs 1,000 crore in FY20. The risk-reward is attractive at current valuations.Goldman Sachs | Rating: Neutral | Target: Cut to Rs 208 from Rs 225The revenue growth of 1 percent year on year is 7 percent below our estimate. Expect growth outlook for Zee to stay challenged and forecast a 5 percent FY20-25 revenue CAGR (8 percent FY21-25 CAGR).Television advertisements will continue to lose share to digital. Cutting EBITDA estimates by 7-10 percent.UBS | Rating: Buy | Target: Rs 250There was a healthy ad recovery but the second COVID wave could negatively impact FY22. If the current wave does not continue in the second quarter, double-digit growth is achievable.Prabhudas LilladherWe keep our estimates broadly unchanged (we were conservative and accounted for margin erosion) and retain buy on the stock with a revised target price of Rs 278 from Rs 296, as we cut our target P/E multiple to 15x (earlier 16x) to account for increased volatility in movie production business.Motilal OswalWe revise down our FY22E/FY23E EBITDA/PAT estimate by 7 percent/5 percent. The stock trades at an attractive valuation of 12x/10x FY22E/FY23E. This is a far cry from its historic multiples of 25-30x.Any potential re-rating will be governed by steady earnings growth, coupled with a consistent and disciplined investment approach and  by avoiding non-core investments.For now, we value Zee at 11x FY23E EPS, with the target price at Rs 210, maintaining a neutral rating.Dolat CapitalWith the concerns getting addressed, we increase our target multiple from 12x to 15x and rating from sell to buy. Our estimates are largely unchanged. Our revised target price is Rs 260 at 15x FY23E EPS (from Rs 204 at 12x Dec-22E EPS). Zee’s management guidance has been a bit volatile in the recent past. Staying persistent with its guidance would be key.ICICI DirectOn a depressed base, FY22 will be a strong growth year for Zee on the ad growth front but the impact of an extended Covid wave needs to be seen.We maintain a hold rating with a target price of Rs 215 per share (earlier Rs 250), valuing the stock at 12x FY23E P/E.SharekhanWe expect the company to deliver a 15 percent CAGR in adjusted net profit over FY2021-FY2023E. The stock is trading at a reasonable valuation at 12x/10x of FY2022E/FY2023E earnings, which is at a 60 percent discount to the 10-year average one-year forward PE.We believe ZEE5 could surprise positively, given its strong focus on regional content and competitive pricing strategy. We maintain our buy rating on ZEEL with an unchanged price target of Rs 275.At 0921 hours, Zee Entertainment Enterprises was quoting at Rs 194.25, up Rs 2.65, or 1.38 percent on the BSE.The share touched a 52-week high of Rs 261 on February 4, 2021 and a 52-week low of Rs 134.75 on August 3, 2020. It is trading 25.57 percent below its 52-week high and 44.16 percent above its 52-week low.Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. Read the full article

[rockingpawan]

Military Hospital Pathankot Recruitment 2020

Military Hospital Pathankot Recruitment 2020

167 Military Hospital Pathankot Recruitment 2020

167 Military Hospital Pathankot Job Notification: 167 Military Hospital has given a notification for recruitment of  Painter and Tinsmith. 

June’2020 Military Recruitment: Pathankot Jobs 167 Military Hospital Pathankot Job Notification: 167 Military Hospital has given a notification for recruitment of  Painter and Tinsmith. 

Numbe…