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Why brokerages are bullish on Zee despite a 94% decline in net profit; stock up 15%

Updated : August 19, 2020 03:40 PM IST

The company's quarterly net profit came in at Rs 29 crore in June 2020, down over 94 percent from Rs 529 crore in June 2019.
Despite the poor performance, global brokerage house CLSA retained a BUY rating and a target price of Rs 255 per share.
Morgan Stanley maintained an 'equal-weight' call on the stock but raised the target to Rs 150 per share from Rs 135 earlier.
Why brokerages are bullish on Zee despite a 94% decline in net profit; stock up 15%

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