Thursday's top brokerage calls: Zee Entertainment

SUMMARY

Motilal Oswal has upgraded its rating on shares of Zee to 'buy' and CLSA said that when the deal is sealed, valuation of Zee is likely to return to historical highs. Here are the top brokerage calls for today:

By CNBCTV18.comDec 23, 2021 8:12:26 AM IST (Published)

Motilal Oswal on Zee Entertainment Enterprises | A strategic partner like Sony will have the ability to leverage large opportunities for Zee Entertainment Enterprises, according to Motilal Oswal. The brokerage has upgraded its rating on shares of Zee to 'buy'.

CLSA on Zee | The brokerage firm noted that the merger will require several approvals including 75 percent of Zee's voting shareholders. When the deal is sealed, valuation is likely to return to historical highs of 30 times PE, CLSA added.

Citi on Zee | Eyes are on all the approvals now, Citi said. How Invesco Oppenheimer and other key institutions vote will need to be monitored, added Citi.