Media & Entertainment Sector

Zee is expected to convey its decision to Sony within the next 24-48 hours regarding its willingness to accept the terms and conditions of the proposed merger.

Recommendation: Buy; Target Price: Rs 396

The proposed merger between the Indian media company and Culver Max Entertainment, the local division of Sony Group Corp. in Japan, may have accelerated as a result of the SAT's verdict (Sony Pictures).

The NCLAT postponed the case until October 31 and noted that ZEEL could submit a response if necessary.

The surge in share price coincided with the release of the Shah Rukh Khan starrer film "Jawan" in theaters

The Mumbai Bench of the NCLT approved Zee's $10 billion merger with Culver Max on August 10

Several operational and financial creditors submitted objections to the NCLT for the Zee-Sony merger scheme.

The NCLT had reserved its decision on the merger between Zee Entertainment Enterprises and Culver Max Entertainment

Recommendation: Add; Target Price: Rs 252

Due to decreased revenue from Covid, the PVR-INOX merger was below the threshold limit of CCI to investigate such transactions.