ICICI Securities Recommends Buy on Zee Entertainment, Sets Target at Rs 120
Business
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Moneycontrol•23-01-2026, 15:01
ICICI Securities Recommends Buy on Zee Entertainment, Sets Target at Rs 120
- •Zee Entertainment's Q3FY26 subscription revenue grew 7% YoY, boosted by Zee5 and B2B broadcast contract renewals.
- •Zee5 achieved EBITDA positivity in Q3FY26, reporting INR 564 million EBITDA.
- •Other sales and services saw a 6x YoY growth, driven by distribution income from Kantara 2 and Akhanda 2.
- •Linear TV segment gained 60 basis points in TV market share YoY, while advertising revenue declined 9% YoY due to FMCG softness.
- •ICICI Securities maintains a 'BUY' rating with a revised target price of INR 120, citing advertising recovery as crucial for re-rating.
Why It Matters: ICICI Securities recommends buying Zee Entertainment with a target of Rs 120, banking on advertising recovery.
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