Vodafone Idea, Zee Entertainment, Airtel and other top stocks to watch out for on September 23

<ul><li><keyword id="6372205" type="General" weightage="20" keywordseo="zee" source="Orion">Zee</keyword> Entertainment has cancelled the board meeting scheduled on October 27.</li><li>The meeting was to consider and approve its quarterly results.</li><li>The company cited a lack of quorum for cancelling the meeting.</li></ul>Zee Entertainment in a stock exchange filing has revealed that it has cancelled the board meeting scheduled for October 27. The board meeting was scheduled to consider and approve its results for quarter-ended September 30, 2021. The company has claimed that the meeting has been cancelled due to a lack of quorum. Quorum is the minimum number of members that need to be present in a meeting for it to become a valid meeting. "This is to inform that a meeting of the Board of Directors of the Company, which was scheduled to be held on Wednesday, October 27, 2021, inter alia, to consider and approve the unaudited financial results of the Company both on standalone and consolidated basis for the 2nd quarter and half year ended September 30, 2021, has been cancelled due to lack of quorum," the company said. <div type="Article" hostid="261" msid="86420990" title="Zee-Sony merger: Here’s what Sony is really getting from Zee Entertainment" mstype="2" mssubtype="0"></div> The company has not announced a new date for the meeting. It has said that the next date for the meeting will be declared with a fresh notice. "Further, the Trading Window for dealing in securities of the Company which stands closed from October 1, 2021, in pursuance of Company's Insider Trading Code, shall remain closed till 48 hours after the announcement of Un-audited financial results of the Company for the 2nd quarter and half year ended September 30, 2021.” The Bombay High Court has granted an injunction against calling an extra ordinary general meeting (EGM). After this, the share price of Zee went up and closed at ₹317.45, an increase of over 4% from Monday's price. Zee is currently embroiled in a legal tussle with <a href="https://www.businessinsider.in/business/corporates/news/invesco-reveals-it-proposed-zees-merger-with-reliance-suggests-that-the-company-left-money-on-the-table-in-sony-merger/articleshow/86984896.cms">Invesco</a>, one of the company’s largest shareholders. Earlier this month, the company’s Chief Executive Officer and Managing Director Punit Goenka taking a jibe at Invesco had <a href="https://www.businessinsider.in/business/corporates/news/zee-invesco-saga-punit-goenka-speaks-up-for-the-first-time-asks-if-corporate-governance-doesnt-apply-to-institutional-investors/articleshow/87019547.cms">questioned</a> if corporate governance does not apply to institutional investors. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/zee-invesco-saga-punit-goenka-speaks-up-for-the-first-time-asks-if-corporate-governance-doesnt-apply-to-institutional-investors/articleshow/87019547.cms">Zee-Invesco saga: Punit Goenka speaks up for the first time, asks if corporate governance doesn’t apply to institutional investors</a> <a href="https://www.businessinsider.in/business/corporates/news/invesco-reveals-it-proposed-zees-merger-with-reliance-suggests-that-the-company-left-money-on-the-table-in-sony-merger/articleshow/86984896.cms">Invesco reveals it proposed Zee’s merger with Reliance, suggests that the company left money on the table in Sony merger</a>

Zee cancels October 27 board meeting, cites lack of quorum

<ul><li><keyword id="51166" type="General" weightage="20" keywordseo="Zee-Entertainment" source="Orion">Zee Entertainment</keyword>, which has been a target of allegations of corporate governance issues, will merge with <keyword id="6358540" type="General" weightage="80" keywordseo="sony" source="Orion">Sony</keyword> Pictures Networks India.</li><li>The <keyword id="6372205" type="General" weightage="100" keywordseo="zee" source="Orion">Zee</keyword>-Sony merger news sent Zee’s stock rallying by over 22% in the first half of the trade on Wednesday.</li><li>In addition to a majority stake in the merged entity, find out exactly what Sony is getting from the Zee-Sony merger.</li></ul>Zee Entertainment and Sony Pictures Networks India are <a href="https://www.businessinsider.in/business/corporates/news/zee-entertainment-merges-with-sony-pictures/articleshow/86416420.cms">coming together</a> and the latter is going to infuse an additional $1.6 billion into the merged entity to fund the company’s future growth. For the Punit Goenka-led entertainment company, this news couldn’t have come at a better time. Zee Entertainment’s largest shareholders had voted to remove Goenka and two other independent directors. While the <a href="https://www.businessinsider.in/stock-market/news/zee-entertainment-shares-hits-upper-circuit-after-two-independent-directors-resign-on-investors-demand/articleshow/86189814.cms">others have resigned</a>, Goenka anchored down. Goenka, who presided over the company since the beginning of 2010s, led the company’s rise in viewership share from 10% in 2016 to 20% in 2020, according to a report by Dolat Capital. While Goenka was staring at an ouster earlier, he will continue in his position as the managing director and chief executive officer of the merged entity. <div type="Video" msid="86426879" hostid="261" title="Marriage story: how Sony Pictures came to rescue of Zee Entertainment" dataSource="BUSINESSINSIDER" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=86426879"></div> Shares of Zee Entertainment rallied by over 22% as of 11:50 a.m., on Wednesday (September 22). Overall, Zee’s shares have surged by over 83% in the last one month. <div type="image" title="ZEE 23_08_21 to 22_09_21." msid="86421002" hostid="261" caption="&amp;lt;p&amp;gt;Zee Entertainment share price over the last one month&amp;lt;/p&amp;gt;"></div> <cmsannotation type="cmsannotation" annotationid="But what exactly is Sony Pictures getting from Zee Entertainment?" comment="subhead" text="But what exactly is Sony Pictures getting from Zee Entertainment?">But what exactly is Sony Pictures getting from Zee Entertainment?</cmsannotation> According to the specifics of the deal announced by Sony Pictures Networks, it will be the majority shareholder in the merged entity, with a stake of 52.93%, while Zee shareholders will hold a 47.07% stake. Sony Pictures will also have the right to appoint the majority of the directors to the board. But beyond the corporate side of things, here’s what Sony gets from Zee. <cmsannotation type="cmsannotation" annotationid="Market share" comment="subhead" text="Market share">Market share</cmsannotation> Zee currently holds a viewership share of 17%, according to a report by Dolat Capital, after slipping 300-350 basis points recently. 100 basis points make up 1%. In comparison, the current market leader holds a share of 24% viewership. It has a portfolio of 37 domestic channels and 39 international channels. “The flagship channel, <keyword id="6462633" type="General" weightage="20" keywordseo="zee-tv" source="Orion">Zee TV</keyword>, is at first (or a close second) spot in the Hindi general entertainment channels (GEC) space. Its Hindi movie channel Zee Cinema and regional GECs Zee Bangla and Zee Marathi are strong players in their respective genres/markets,” stated a report by IIFL Securities dated September 15. Here’s a look at some key financial metrics of the company: <table style="border-width: initial; border-style: none;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">FY22e </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">FY23e </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">FY24e </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹7,730 cr </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹8,191 cr </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹9,037 cr </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹9,881 cr </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Margin (Ebitda) </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">23.2% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">22.6% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">25.9% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">27.8% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹1,747 cr </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹1,119 cr </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹1,187 cr </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹1,440 cr </td></tr></tbody><tbody></tbody><tbody></tbody></table>Source: Company reports, Prabhudas Lilladher <cmsannotation type="cmsannotation" annotationid="Zee5" comment="subhead" text="Zee5"><keyword id="6245082" type="General" weightage="20" keywordseo="zee5" source="Orion">Zee5</keyword></cmsannotation> Zee5 is the company’s digital entertainment platform, providing access to Zee’s portfolio of shows and movies on smartphones and smart TVs. According to reports, Zee5 had 80.2 million monthly active users as of June quarter. Zee5 went on a user-acquisition spree and reduced its annual prices to ₹499 from ₹999. This was immediately visible in the number of users, which increased from 72 million at the end of March this year to over 80 million at the end of June. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/zee-entertainment-merges-with-sony-pictures/articleshow/86416420.cms">Marriage Story! Zee gets a white knight in Sony</a> <a href="https://www.businessinsider.in/stock-market/news/zee-entertainment-shares-hits-upper-circuit-after-two-independent-directors-resign-on-investors-demand/articleshow/86189814.cms">Zee Entertainment hits 33% after two independent directors resign on investor’s demand</a>

Zee-Sony merger: Here’s what Sony is really getting from Zee Entertainment

<ul><li>Shares of Zee Entertainment have rallied 21% in the last one month and outperformed the benchmark index that gained 11%.</li><li>Analysts believe that the strong box office collection of movie “The Kashmir Files” and expectation of significant opportunities from the Zee-Sony merger has fuelled the stock.</li><li>Moreover, there are hopes that the company’s revenue will cross ₹10,000 crore in next two fiscal years.</li></ul>Things are finally falling in place for investors of Zee Entertainment Enterprises as shares of the company rallied sharply in the last one month and even outperformed the benchmark index. Shares of Zee Entertainment rallied 21% in the last one month outpacing the benchmark index Sensex that gained 11%. It seems like a rather fresh start for investors that literally made no money in the last five years of investment in this stock as shares of the company lost value by 45%. It was only after September 2021 that the stock picked up with reports of <a href="https://www.businessinsider.in/business/corporates/news/zee-entertainment-merges-with-sony-pictures/articleshow/86416420.cms#:~:text=Media%20company%20Zee%20Entertainment%20announced,to%2040%25%20since%20last%20week.">Sony-Zee merger.</a> The combined entity is likely to emerge as a strong player in both television (TV) and over-the-top (OTT) business by leveraging their ability to create content across genres and regional markets. The merger has made the new entity one of the largest entertainment groups in the country. The combined entity is expected to make its mark in both TV and OTT business and create content across genres and regional markets. “The merger is expected to strengthen ZEEL’s [Zee Entertainment Enterprises Limited] portfolio with Sony’s sport, kids, and English movie content. The combined entity will be in a superior position on maximising its revenue across platforms, including OTT, given its wider content choices, investments on digital, aggressive bidding for sports rights, and focus on leveraging Sony Group’s deep capability in gaming and presence in international markets,” said analysts at Sharekhan. Financial estimates for coming years after Zee-Sony merger <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22 estimate </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY23 estimate </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY24 estimate </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹7,729 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹8,087 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹9,277 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹10,070 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adjusted profit after tax </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,122 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,232 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,560 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,731 crore </td></tr></tbody><tbody></tbody><tbody></tbody></table>(Source: Sharekhan Research) Analysts expect the company’s revenue to cross 10,000 crore in next two fiscal years. Another reason that cheered investors was the huge success of the movie ‘The Kashmir Files’ produced by Zee Studios, a subsidiary of Zee Entertainment. The film, featuring Anupam Kher, Mithun Chakraborty and Pallavi Joshi, made more than ₹100 crore. Along with it, the hit Tamil movie ‘Valimai’ also added money to the kitty. Analysts at Sharekhan say that strong box office collections of ‘The Kashmir Files’ and ‘Valimai’ would drive revenue of other operating sales. They forecast Zee’s overall revenue to grow by 12.2% year-on-year in the fourth quarter of FY22. Recent share sale by its largest investor Invesco brought some turbulence to the company’s stock. Invesco recently offloaded up to 8% of its stake in the company through the block deal on April 7, 2022. Invesco stated that the purpose of the sale is to only align its fund exposures to Zee with other funds managed by the investment team. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/you-will-soon-be-able-to-use-upi-for-cardless-cash-withdrawals-at-all-banks-and-atms/articleshow/90721884.cms">You will soon be able to use UPI for cardless cash withdrawals at all banks and ATMs</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/one-in-three-women-have-no-knowledge-about-periods-before-their-first-menstruation/slidelist/90721792.cms">One in three women have no knowledge about periods before their first menstruation</a>

Zee Entertainment rallies sharply in one month on strong box office collection of ‘The Kashmir Files’ and on high hopes from Zee-Sony merger

<ul><li>Zee Entertainment witnessed a steep jump of over 17% in early morning trade on Thursday.</li><li>Zee Entertainment Enterprises Limited’s market capitalisation reached ₹28,786 crore ($3.7 billion).</li><li>The development comes after Invesco Developing Markets Fund decided not to pursue the EGM.</li></ul>The share price of Zee Entertainment Enterprises Limited witnessed a steep jump of over 17% in early morning trade on Thursday. The company was trading at ₹300.25 at 10:01 a.m., on March 24. With this, Zee Entertainment Enterprises Limited’s market capitalisation reached ₹28,786 crore ($3.7 billion). <div type="image" title="Zee Entertainment’s share price rallies up to 17% as Invesco puts down the sword" msid="90412309" hostid="261"></div> The development comes after Invesco Developing Markets Fund — the largest shareholder of Zee Entertainment Enterprises — decided not to pursue the extraordinary general meeting (EGM). The investment firm noted that the newly combined Zee-Sony entity will be substantially reconstituted and this will strengthen its board oversight. Invesco, in a statement, also emphasised it will continue to monitor the progress of the proposed merger. Invesco still retains the right to requisition a fresh EGM in case the merger is not completed as proposed. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<blockquote class="stocktwits-embedded-post" data-origin="https://stocktwits.com" data-id="446628575"> $ZEEL.NSE just a start of larger degree wave 3.Accumulate on dips. Long way to go higher to scale new highs. &mdash; (@TrendonomicsHD) <a href="https://stocktwits.com/TrendonomicsHD/message/446628575"> March 24, 2022</a></blockquote><script async src="https://stocktwits.com/min/widgets.js" charset="utf-8"></script>]]></cdata></div> Both the companies — Zee Entertainment and Invesco — were entangled in a legal dispute since last year. Invesco reportedly wanted changes at Zee in the light of alleged corporate governance and financial irregularities that plagued the company. The issues were even <a href="https://m.economictimes.com/markets/stocks/news/sebi-lifts-restrictions-on-10-entities-in-zee-entertainment-insider-trading-case/articleshow/89669577.cms">flagged</a> by the market regulator. Invesco, which holds 18% shareholding in Zee Entertainment, had suggested six new independent board members to be appointed at Zee Entertainment. It also sought removal of Zee Entertainment’s current chief executive offering (CEO) Punit Goenka. The investment firm, on September 11, also asked Zee to call an EGM of shareholders to consider their demands. Bombay high court has also recognised Invesco’s requisition for EGM as legally valid. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/ruchi-soya-icici-bank-zee-entertainment-and-other-hot-stocks-to-watch-out-for-on-march-24/slidelist/90410086.cms">Ruchi Soya, ICICI Bank, Zee Entertainment and other hot stocks to watch out for on March 24</a> <a href="https://www.businessinsider.in/policy/economy/news/the-russia-ukraine-conflict-could-shake-up-the-global-balance-of-power-in-3-big-ways-economist-intelligence-unit-says/articleshow/90406629.cms" data-type="tilCustomLink">The Russia-Ukraine conflict could shake up the global balance of power in 3 big ways, Economist Intelligence Unit says</a> <a href="https://www.businessinsider.in/science/health/news/omicron-subvariant-infections-on-rise-in-us-accounts-for-over-34-of-the-new-covid-19-infections/articleshow/90410070.cms" data-type="tilCustomLink">Omicron subvariant infections on the rise in US, accounts for over 34% of the new COVID-19 infections</a>

Zee Entertainment’s share price rallies up to 17% as Invesco puts down the sword

<ul><li>At 7:45 am, the SGX Nifty was down 0.18%, indicating a tepid start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to start subdued on Friday, led by mixed cues from the global markets. At 7:45 am, the SGX Nifty was down 0.18%, indicating a tepid start for Nifty50. However, the <a href="https://www.businessinsider.in/stock-market/news/us-stocks-climb-as-900-billion-stimulus-deal-appears-imminent/articleshow/79782556.cms">US stocks gained on Thursday</a> and marched toward record highs as a $900 billion fiscal stimulus bill to hasten the economic recovery from the COVID-19 pandemic appeared imminent. The Dow Jones Industrial Average closed 0.49% higher, and the S&amp;P 500 was up 0.58%. These are the stocks to watch out for during the trading session today: RIL The Supreme Court has asked Reliance Industries (RIL) to deposit ₹250 crore, which is 50% of the disgorged amount of ₹447.27 crore, as per the orders of the Securities Appellate Tribunal in a case related to the sale of Reliance Petroleum (RPL) shares. Bharat Dynamics, Hindustan Aeronautics, Bharat Forge and other defence stocks Bharat Dynamics, Hindustan Aeronautics, Bharat Forge and other defence stocks will be in focus during the trade today. The defence acquisition council headed by Union Minister Rajnath Singh approved the capital acquisition of various weapons/platforms/equipment/systems required by the Army, the Navy and the Air Force at an approximate overall cost of ₹28,000 crore. HCL Tech, Infosys, TCS and other IT stocks HCL Tech, Infosys, TCS and other IT stocks will be in focus during the trade. The consulting and outsourcing services provider Accenture has raised its full-year sales forecast and beat quarterly revenue estimates on December 17. Tata Consultancy Services’ (TCS) The ₹16,000 crore share buyback programme of Information technology (IT) major Tata Consultancy Services’ (TCS) will open today (December 18). And, the offer will remain open till January 1. Zee Entertainment The board of Zee Entertainment Entertainment (ZEEL) has approved the acquisition of film production and distribution business from Zee Studios, a wholly-owned subsidiary of the former for a cash consideration of ₹275 crore. BPCL Privatisation-bound Bharat Petroleum Corporation (BPCL) board has approved buying out Oman Oil Company’s stake in the Bina refinery project in Madhya Pradesh on mutually agreeable terms. The BPCL board at its meeting on Thursday also approved merging Bharat Gas Resources (BGRL) with itself, the company said in a filing to the stock exchanges. Godrej Agrovet The Government of Telangana has allotted an area measuring up to 28,164 hectares in the Mahabubabad District of Telangana to Godrej Agrovet, for the purpose of oil palm cultivation. Canara Bank The Life Insurance Corporation of India has acquired 6.28 crore shares of Canara Bank through the qualified institutional placement, taking its total shareholding in the bank to 8.35% from 4.53%. Dishman Carbogen Dishman Carbogen promoter will sell a 4.4% stake in the company via offer for sale on December 18 and 21 at a set floor price of ₹145.70 per share. SpiceJet SpiceJet would start 30 new domestic flights in a phased manner from next week. Among the 30 flights from Sunday, six will connect Darbhanga in Bihar with Ahmedabad, Pune and Hyderabad, the airline said. PVR The board of cinema hall giant PVR will meet today to discuss its fundraising plans. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/burger-king-ipo-investors-tripled-their-money-in-three-days/articleshow/79761366.cms" data-type="tilCustomLink">Burger King's IPO investors tripled their money in three days</a> <a href="https://www.businessinsider.in/business/news/india-has-a-hot-new-debate-on-its-plate-should-the-likes-of-burger-king-kfc-and-mcdonalds-menus-mention-calories/articleshow/79771040.cms" data-type="tilCustomLink">India has a hot new debate on its plate: Should the likes of Burger King, KFC and McDonald’s menus mention calories?</a>

Top stocks to watch — RIL, TCS, HCL Tech, Zee Entertainment, BPCL, Bharat Dynamics, HAL, Bharat Forge, and others

<ul><li>The 30-share BSE index Sensex was down 250 points, and the NSE Nifty was trading 0.67% lower at 9:55 am. </li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market indices opened on a choppy note on Thursday, tracking weak cues from the global markets as negotiations continue to drag over the stimulus package in the US. The 30-share BSE index Sensex was down 250 points, and the NSE Nifty was trading 0.67% lower at 9:55 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finserv </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr Reddy </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Britannia </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td></tr></tbody></table>*as of October 22, 09:55 am These are the top stocks in news today. Zee Entertainment Enterprises (ZEEL) up over 2% The shares of Zee Entertainment Enterprises (ZEEL) gained over 2%, a day after the company unveiled a major strategic restructuring to focus on revenue maximisation and foray into newer territories. Vedanta shares gain 3% Vedanta shares trade 3% higher ahead of the board meeting, which is scheduled to meet on October 24 to consider and approve the first interim dividend for FY21. GMM Pfaudler trades 1% higher Even in the volatile market, the shares of GMM Pfaudler were trading one percent higher. The company has reported a 29.14% jump in its consolidated net profit to ₹26.85 crore for the second quarter ended September 30. KPIT Tech shed over 3% The software technology company KPIT Tech shed over 3% after the company reported a 2.5% fall in its net profit to ₹27.8 crore for the quarter ended September 30. JK Tyre shares gain 6% The shares of tyre major JK Tyre gained over 6% during the morning trade on Thursday after the company reported strong QoQ growth in Q2. The company reported a net profit at ₹109.68 crore against the loss ₹204.17 crore in the first quarter. Bajaj Finserv trades 2% higher The shares of private lender Bajaj Finserv rose over 2% after it reported a 5.8% jump in its total income to ₹15,051.59 crore during the second quarter ended September 30. However, its consolidated net profit fell 18% to ₹986.29 crore. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/former-tesla-cio-raises-150-million-for-his-saas-automotive-retail-startup-enters-the-unicorn-club/articleshow/78800958.cms" data-type="tilCustomLink">Former Tesla CIO raises $150 million for his SaaS automotive retail startup, enters the unicorn club</a> <a href="https://www.businessinsider.in/business/corporates/news/kumar-mangalam-birla-says-cement-industry-is-recovering-and-analysts-find-evidence-of-it-outside-ultratech-too/articleshow/78791281.cms">Kumar Mangalam Birla says cement industry is recovering and analysts find evidence of it outside UltraTech too</a> <a href="https://www.businessinsider.in/business/startups/news/uber-bus-pradeep-parameswaran-says-india-and-apac-will-follow-egypt-success/articleshow/78788982.cms">Uber Bus in India soon? Head of Mobility in APAC says he is ready to import the Egypt experiment</a> <a href="https://www.businessinsider.in/india/news/sadhguru-advice-government-should-give-tax-relief-for-sustainable-businesses/articleshow/78790522.cms">Sadhguru’s advice: Government should give tax relief for sustainable businesses</a>

Top stock movers — Vedanta, JK Tyre, GMM Pfaudler, Bajaj Finserv, Wipro, HCL Tech, Dr Reddy and others

<ul><li>Advertisement growth typically returns with a lag to economic growth. </li><li>Increased spend towards movie and OTT content to arrest declining market share.</li></ul>As per <keyword id="46252" type="PERSON" weightage="20" keywordseo="Motilal-Oswal">Motilal Oswal</keyword> Institutional Equities, <keyword id="10213964" type="UNKNOWN" weightage="20" keywordseo="Zee-Entertainment-and-Enterprises-Ltd">Zee Entertainment and Enterprises Ltd</keyword> revenue declined by 19% YoY (in-line) as ad revenue fell 26% YoY. “We have revised up ad revenues by 6%/6% for FY21/FY22E on better revenue visibility. But, we reduce revenue estimates from other sales divisions, maintaining our overall FY21/FY22E revenue. EBITDA remains unchanged, with increased content cost toward: a) movie/OTT, to arrest the decline in market share in key markets b) high inventory unwind, offset by lower other operating expenses. Thus, we factor in a 14%/22% EBITDA / adj. PAT CAGR. Maintain Neutral, with TP of INR 190,” read its press statement. Ad revenues remain weak Zee’s consolidated revenues declined 19% YoY to INR 17.2b (in-line). Advertisement revenues declined 26% YoY to INR9b on account of a drop in ad spends due to the impact of COVID-19. On the other hand, subscriptions grew by 11% YoY to INR8b on the inclusion of music revenue in the Subscription segment. Hence, on a like-to-like basis, domestic subscriptions grew 2.3% YoY, primarily driven by growth in ZEE5 subscription revenues. Zee’s total operating expenses were flat YoY at INR14b – as programming resumed in a staggered manner across regions – including a one-time provision toward subscription receivables of INR812m. EBITDA thus declined 55% YoY to INR3.1b. (20% miss), with margins of 18.2% (32.7% in 2QFY20). Zee took one-time provisions of INR812m toward receivables from Siti Networks. Adjusted for a one-off, EBITDA increased 43% YoY to INR3.9b, with a 22.9% EBITDA margin. Additionally, it incurred: a) Exceptional items of INR970m toward provisions of receivables from Siti Networks – as ZEE has provided corporate guarantees b) FV loss of INR207m – due to a change in the market price of redeemable preference shares. n Reported PAT declined 77% YoY to INR942m (est. PAT of INR2.5b), and adj. PAT (for exceptional items) declined 70% YoY to INR1.7b Highlights from management commentary Subscription growth in FY21 is expected to fall short v/s higher expectancy by the management earlier, while ad revenues should normalize by 3QFY21 and may grow from 4QFY21. n Margin trajectory may return to normal by FY22E and ZEE5 is expected to achieve breakeven by FY24E. ZEE’s investment in SugarBox would depend on the upcoming contract from the Railways, to be received by SugarBox. n Inventory and advance deposits dropped to INR60b in Sep’20 from INR64b in Mar’20. Valuation and view Advertisement growth typically returns with a lag to economic growth. Furthermore, the risk of margin pressure remains from over INR1.9b quarter loss in OTT investments, along with increase programming cost towards: a) high inventory unwind and b) increased spend toward movie and OTT content to arrest declining market share. However, since FY20, management has highlighted that it remains highly committed to bringing in a) increased governance and higher transparency toward investment in financial assets and working capital and b) high governance standard, including a robust and independent board. “We remain watchful of the evolving business situation and governance measures, including the admission of new board members over the next few months and increasing financial disclosures for investors. We maintain our FY21/FY22E revenue and EBITDA estimates. Thus, we factor in a 14%/22% EBITDA / adj. PAT CAGR. The stock trades at 12.5x FY22E EPS of INR15; we value ZEE at 13x FY22E EPS, thus maintaining our Target Price at INR190. Maintain Neutral,” read the statement.

ZEEL's ad revenues declined by 26% YoY to Rs 9 billion due to COVID-19

<ul><li><keyword id="3441386" type="General" weightage="20" keywordseo="sony-pictures-networks-india-private-limited" source="Orion">Sony Pictures Networks India Private Limited</keyword> (SPNI) and Zee Entertainment Enterprises Ltd have entered a definitive agreement to merge ZEEL with and into SPNI and combine their linear networks, digital assets, production operations and program libraries.</li><li><keyword id="599253" type="General" weightage="20" keywordseo="punit-goenka" source="Orion">Punit Goenka</keyword> will lead the combined company as its Managing Director &amp; CEO. </li><li>The majority of the board of directors of the combined company will be nominated by the Sony Group and will include the current SPNI Managing Director and CEO, NP Singh.</li></ul>Sony Pictures Networks India Private Limited (SPNI) and <keyword id="381258" type="General" weightage="20" keywordseo="zee-entertainment-enterprises-ltd-" source="Orion">Zee Entertainment Enterprises Ltd.</keyword> (ZEEL) today announced that they have signed definitive agreements to merge ZEEL with and into SPNI and combine their linear networks, digital assets, production operations and program libraries. The agreements follow the conclusion of an exclusive negotiation period during which ZEEL and SPNI conducted mutual due diligence. After closing, the new combined company will be publicly listed in India. The closing of the transaction is subject to certain customary closing conditions, including regulatory, shareholder, and third-party approvals. Under the terms of the definitive agreements, SPNI will have cash balance of USD $1.5 Bn (assuming an INR:USD exchange rate of 75:1) at closing, including through infusion by the current shareholders of SPNI and the promoters (founders) of ZEEL, to enable the combined company to drive sharper content creation across platforms, strengthen its footprint in the rapidly evolving digital ecosystem, bid for media rights in the fast-growing sports landscape and pursue other growth opportunities. SPNI is an indirect subsidiary of Sony Pictures Entertainment Inc. (SPE). Under the transactions contemplated by a non-compete agreement, SPE, through a subsidiary, will pay a non-compete fee to certain promoters (founders) of ZEEL, which will be used by such promoters (founders) to infuse primary equity capital into SPNI, entitling the promoters (founders) of ZEEL to acquire shares of SPNI, which would eventually equal approximately 2.11% of the shares of the combined company on a post-closing basis. After the closing, SPE will indirectly hold a majority 50.86% of the combined company, the promoters (founders) of ZEEL will hold 3.99%, and the other ZEEL shareholders will hold a 45.15% stake. Punit Goenka will lead the combined company as its Managing Director &amp; CEO. The majority of the board of directors of the combined company will be nominated by the Sony Group and will include the current SPNI Managing Director and CEO, NP Singh. On closing, Singh will assume a broader executive position at SPE as Chairman, <keyword id="833633" type="General" weightage="20" keywordseo="sony-pictures-india" source="Orion">Sony Pictures India</keyword> (a division of SPE) reporting to Mr. <keyword id="212528" type="General" weightage="20" keywordseo="ravi-ahuja" source="Orion">Ravi Ahuja</keyword>, SPE’s Chairman of Global Television Studios and SPE Corporate Development. The combination of ZEEL and SPNI is expected to achieve business synergies and given their relative strengths in scripted, factual and sports programming, respective distribution footprints across India and iconic entertainment brands, the combined company should be well-positioned to meet the growing consumer demand for premium content across entertainment touchpoints and platforms. The seamless blend of rich expertise in content creation, deep consumer insights and success across entertainment genres is expected to drive the combined company’s ability to accrue higher shareholder value. Under the stewardship of the Sony Group, a global leader in consumer technologies, gaming and entertainment, the combined company is expected to be able to better compete with the world’s largest streaming players. As part of the definitive agreements, the promoters (founders) of ZEEL have agreed to limit the equity that they may own in the combined company to 20% of its outstanding shares. This construct does not provide the promoters (founders) of ZEEL any pre-emptive or other rights to acquire equity of the combined company from the Sony Group, the combined company or any other party. Any shares purchased by the promoters (founders) of ZEEL, must be in compliance with all applicable laws including any pricing guidelines. Commenting on this development, Punit Goenka, MD &amp; CEO, ZEE Entertainment Enterprises Ltd. said, “It is a significant milestone for all of us, as two leading media &amp; entertainment companies join hands to drive the next era of entertainment filled with immense opportunities. The combined company will create a comprehensive entertainment business, enabling us to serve our consumers with wider content choices across platforms. I am immensely grateful to the teams at ZEEL, SPE and SPNI for their efforts, that swiftly led us to this point within the stipulated timelines. This <keyword id="42411" type="General" weightage="20" keywordseo="merger" source="Orion">merger</keyword> presents a significant opportunity to jointly take the businesses to the next level and drive substantial growth in the global arena. I look forward to working with the guidance of the esteemed members of the combined company’s board to unlock the potential of this merger, and I wish <keyword id="1436102" type="General" weightage="20" keywordseo="n-p-singh" source="Orion">N.P. Singh</keyword> all the best in his new role at SPE. His contribution to the Indian media &amp; entertainment industry has been invaluable. I am most certain that our collective wisdom, rich experience and expertise will lead to a more value accretive and exciting company for our shareholders and employees, and a more engaging one for our customers and partners.” “Today marks an important step in our efforts to bring together some of the strongest leadership teams, content creators, and film libraries in the media business to create extraordinary entertainment and value for Indian consumers,” said Ravi Ahuja, SPE’s Chairman of Global Television Studios and SPE Corporate Development. “I want to thank Punit and his team at ZEEL and the small army of people at SPE and SPNI who have worked so hard to get us to this point. I especially want to thank NP Singh, who presented us with the idea to explore this merger well over a year ago. N.P. has done extraordinary work building SPNI to what it is today, and we look forward to continuing our work with him in his new role after closing.” MD &amp; CEO, SPNI, N.P. Singh, added, “This merger will create a company that’s best in class and will redefine the contours of the media and entertainment industry. As a representative of SPE on the Board of the new merged company, it will be my endeavour to provide strategic guidance and support to the company’s operating team in achieving our vision. I am also excited at the opportunity of being appointed, Chairman, Sony Pictures India, to oversee SPE’s investments and craft a wider footprint for Sony in India.” SPE was advised on this transaction by Morgan Stanley, KPMG Corporate Finance, and Shardul Amarchand Mangaldas &amp; Co. ZEEL was advised by KPMG, JP Morgan, Trilegal and Boston Consulting Group.

Sony and Zee Entertainment sign definitive agreements to merge, Punit Goenka to lead combined company as MD & CEO

<ul><li>IPL media rights saw its final round of bidding yesterday and have been auctioned for ₹484 crore (US$6.2bn) for the period 2023-2027.</li><li>Star has retained the linear broadcast rights, Viacom18 has bagged the digital rights.</li><li>The owner of franchise SunRisers Hyderabad, <keyword id="56013" type="General" weightage="20" keywordseo="sun-tv" source="Orion">Sun TV</keyword> Network, will also get a big cut in profits from BCCL as IPL’s overall value jumps by 3x.</li><li>ZeeL is also likely to benefit from losing the international mandate.</li></ul>Mukesh Ambani’s Viacom18 and Disney+Star are not the only two media conglomerates to benefit from the recent auction of the Indian Premier League’s media rights. Media channel Sun TV Network and <keyword id="6372205" type="General" weightage="20" keywordseo="zee" source="Orion">Zee</keyword> Entertainment Enterprises Ltd (ZeeL) might be two indirect beneficiaries of the recently-concluded IPL media rights auctions. Sun TV to get a bigger share in profits from BCCL Sun TV owns the IPL franchise Sunrisers Hyderabad (SRH). The media network had <a href="https://www.thehindubusinessline.com/companies/sun-tv-may-hive-off-sunrisers-hyderabad-as-a-separate-entity-or-go-for-an-ipo/article37386221.ece">earned </a>₹175.55 crore in IPL revenues for H1 ended September 2021. <div type="image" title="Sun TV Networks 01_01_22 to 15_06_22." msid="92223507" hostid="261" caption="&amp;lt;p&amp;gt;BSE&amp;lt;/p&amp;gt;"></div> After the latest auction, IPL value has <a href="https://www.businessinsider.in/business/corporates/news/ipl-value-jumps-3x-to-48000-crore-heres-how-much-mukesh-ambani-disney-and-times-internet-are-spending/articleshow/92209726.cms">jumped </a>by 3x to ₹48,000 crore, which means franchises will get a bigger cut in profits from the Board of Control for Cricket in India (BCCI). IPL franchises earn from brand sponsorships, prize money, ticket and merchandise sales and get a guaranteed <a href="https://www.thehindubusinessline.com/companies/sun-tv-may-hive-off-sunrisers-hyderabad-as-a-separate-entity-or-go-for-an-ipo/article37386221.ece">50% revenue</a> share from IPL’s central contract revenue pool. As per financial advisory firm Elara Capital, all IPL teams will see their revenue jump by 2x after the auction and SRH’s revenue is expected to grow by a compound annual growth rate (CAGR) of 16.1%. <div type="image" title="Sunrisers revenue" msid="92223579" hostid="261" caption="&amp;lt;p&amp;gt;Elara Securities &amp;lt;/p&amp;gt;"></div> When losers are the real winners Media conglomerate Zee Entertainment and Sony had their eyes set on package D of IPL media rights bundles as Zee has a strong network of subscribers outside of India. The bundle included digital and broadcasting rights of a few international markets. However, Zee lost the mandate to Times Network and Viacom18. Package D was sold for a total <a href="https://www.businessinsider.in/business/corporates/news/ipl-value-jumps-3x-to-48000-crore-heres-how-much-mukesh-ambani-disney-and-times-internet-are-spending/articleshow/92209726.cms">price of ₹1,058 crore</a>. According to a report by Elara Capital, Zee might actually benefit from losing out on the mandate this time. The report explains, “Star and Hotstar financials suggest that winning the broadcast rights in the previous cycle does not seem to have had a material positive impact on profitability. Not winning the rights to these elevated values, therefore, is a positive for Zee, in our view.” Zee-Sony’s earnings would have taken a huge hit due to hefty content costs if it had won IPL rights. <div type="image" title="OTT maus" msid="92223598" hostid="261" caption="&amp;lt;p&amp;gt;Elara Securities Research&amp;lt;/p&amp;gt;"></div> Zee5 and SonyLIV are currently ahead of Viacom18’s Voot in terms of monthly active users (MAUs). After winning IPL digital rights, the tables might turn and Voot or the Jio platform might add more subscribers and MAUs. Currently, both digital platforms SonyLIV and Zee5 would have to bring their A-game to the forefront to win new consumers and maintain their MAUs growth. “Zee5 and SonyLIV may have to accomplish immense leg work on the OTT side In terms of user experience, large-scale content and distribution -- in order to emerge a winner and scale-up in the highly fragmented Indian OTT market. We maintain BUY on Zee Entertainment Enterprises propelled by the merger with Sony that should drive potential synergies, both for the TV and digital businesses,” the report said.

Zee and Sun TV might not have won IPL media mandates but here’s how they will benefit from the IPL auction

New Delhi, Nov 25 () The Singapore government and Monetary Authority of Singapore have hiked their total holding in Zee Entertainment Enterprises Ltd (ZEEL) to 8.44 per cent by acquiring shares through secondary market placement, according to a regulatory filing by the company.
 GIC Pvt Ltd on account of Government of Singapore (GOS) and Monetary Authority of Singapore (MAS) acquired a total of 2.85 crore shares, amounting to 2.967 per cent stake in ZEEL on November 21.
 While GOS acquired 1,44,76,963 shares aggregating 1.507 per cent stake, MAS acquired 1,40,23,037 shares accounting for 1.46 per cent shareholding, the filing said.
 Based on the closing price of Rs 345.25 per share on BSE on the day of acquisition, the transaction is valued at over Rs 980 crore.
 Before the acquisition, GOS held 4.28 per cent stake, while MAS' stake stood at 1.193 per cent aggregating to a total of 5.473 per cent, ZEEL added.
 The Subhash Chandra-led cash-starved Essel Group on November 20 said it is planning to sell 16.5 per cent stake in its flagship ZEEL to financial creditors to meet its loan repayment obligations.
 In September, the group had sold 11 per cent stake in ZEEL to Invesco-Oppenheimer fund for over Rs 4,224 crore and then retired debt worth Rs 4,000 crore.
 Atlanta-based Invesco already held 7.74 per cent stake in ZEEL since 2002. RKL RVK

Singapore govt, monetary authority hike stake in Zee Entertainment

<a href="https://www.businessinsider.com/insiderpicks" target="_blank" rel="noopener">Insider Picks</a> writes about products and services to help you navigate when shopping online. Insider Inc. receives a commission from our affiliate partners when you buy through our links, but our reporting and recommendations are always independent and objective.<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://zeel.pxf.io/c/196318/577736/9559?u=https%3A%2F%2Fwww.zeel.com%2Fmassage-on-demand" target="_blank" rel="noopener"><img src="https://static-ssl.businessinsider.com/image/5cfad5b211e205413221d5b6-1107/screen shot 2019-06-07 at 51735 pm.png" border="0" alt="Screen Shot 2019 06 07 at 5.17.35 PM" data-mce-source="Zeel" /></a>Zeel</div></div></div><ul class="summary-list"><li><a href="http://zeel.pxf.io/c/196318/577736/9559?u=https%3A%2F%2Fwww.zeel.com%2F" target="_blank" rel="noopener">Zeel</a> connects you with licensed massage therapists in your area. Your masseuse will come to you - whether you're at home, in a hotel, or in the office.</li><li>You can <a href="http://zeel.pxf.io/c/196318/577736/9559?u=https%3A%2F%2Fwww.zeel.com%2Fmassage-on-demand" target="_blank" rel="noopener">book a massage</a> any time between 8 a.m. and 10:30 p.m., 365 days per year. Masseuses are available in as little as an hour after you book, or up to 30 days in advance.</li><li>Prices vary by <a href="http://zeel.pxf.io/c/196318/577736/9559?u=https%3A%2F%2Fwww.zeel.com%2Fmassage-near-me" target="_blank" rel="noopener">location</a>, but it can be as low as $117 (tax and tip included) for a 60-minute massage at home.</li><li>I booked a massage for $175 (tax and tip included) through the service, and I had an extremely positive experience. </li><li>Use the code "Businessinsider" to get $25 off your first massage.</li></ul>Every time I arrive at an event that's meant to be relaxing - a massage, an upscale haircut - it's always with a light sheen of sweat. I got stuck on a subway underground, raced to my appointment in 80-degree heat to avoid a fee, and took the five floors at a runner's pace because the building's elevator is out. By the time I arrive, I'm so anxious - and so profusely apologizing to the receptionist - that I'm not really preparing myself to relax. Instead of unwinding and enjoying a treat, it ends up feeling like any other appointment on my calendar.So when I heard about Zeel, a service that lets you book relatively affordable, convenient massages with licensed therapists in your own home, I was intrigued. It could cut out the anxiety, stress, and commute that makes it hard to enjoy experiences that should - in theory - be enjoyed from beginning to end, especially for the high cost.<h2>How does Zeel work?</h2><ol><li>Pick what kind of massage you want: single, couple's, back-t0-back, or a chair massage.</li><li>Pop in your zip code and email.</li><li>Choose which <a href="http://zeel.pxf.io/c/196318/577736/9559?u=https%3A%2F%2Fwww.zeel.com%2Fhelp-center%2Ffaqs%2Ftable%2F23%2Fid" target="_blank" rel="noopener">type of massage</a> you want (Swedish, deep tissue, prenatal, sports, sleep); the duration (60 minutes, 75 minutes, 90 minutes); and your gender preference for the therapist if you have one.</li><li>Log your address and any details about parking and/or directions to your home. </li><li>Choose a day for your massage (ranging from today to 30 days from now) and the time slot that works for you. </li><li>Add a credit card. There's no charge until the massage actually occurs, and there's free cancellation up to four hours ahead of your appointment.</li></ol>Once you're matched with a masseuse whose expertise and timing aligns with your needs, you can see their bio (including their professional license and certifications), and in the future, you can make special requests to work with the same therapist again. I also got texts with notifications about my massage - confirmation, and two day-of reminders: one in the morning, and one about an hour before my massage was set to begin. <h2>Where is Zeel available?</h2><div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://zeel.pxf.io/c/196318/577736/9559?u=https%3A%2F%2Fwww.zeel.com%2Fmassage-near-me" target="_blank" rel="noopener"><img src="https://static-ssl.businessinsider.com/image/5cfec9e36fc92014b35f910a-1454/screen-shot-2019-06-10-at-51749-pm.jpg" border="0" alt="Screen Shot 2019 06 10 at 5.17.49 PM" data-mce-source="Zeel" /></a>Zeel</div></div></div>Zeel is available nationally. Check your zip code <a href="http://zeel.pxf.io/c/196318/577736/9559?u=https%3A%2F%2Fwww.zeel.com%2Fmassage-near-me" target="_blank" rel="noopener">here</a>. <h2>What's it like to use Zeel in person?</h2>Zeel massage therapists bring all their own materials - a table, oils, music, and anything else they use during the massage - so the only things I needed on hand were a pillowcase and two sheets to cover the table. Other than that, all you have to do is be home at the time they're scheduled to arrive and have a 6-foot-by-10-foot space cleared for the massage table to fit.I got text reminders through Zeel, and my masseuse also texted me to check if there were any issues she should be aware of or any aspects I'd like to focus on prior to the massage. If your schedule is hectic, don't worry about the logistics beforehand - you can also just cover those factors when your masseuse arrives.My massage therapist showed up a few minutes early, set up the table in my apartment, and then went to wash her hands so as to give me some privacy to lay down on the table. If you can, plan ahead and wear a robe so your masseuse doesn't have to politely dawdle for too long. I had some trepidation over inviting a stranger into my apartment to massage me for an hour - as one does. But I really shouldn't have worried. My home is my most comfortable space, and masseuses with (in my case) decades of experience under their belts are pretty much masters at making other people feel comfortable. It turns out it's a pretty great combination. My therapist was exceptional - warm, knowledgeable, and very professional. She gave me ample time to change and get covered by the sheets (you can keep on underwear, shorts, or nothing - whatever you choose), gauged my comfort level throughout without ever disrupting the flow, and talked as little or as much as I showed interest in. In terms of how it stacked up to previous massages, the 60-minute Swedish massage itself was perfect - and just as good as any I've had before. Once finished and technically free to leave, my masseuse also took the time to show me custom stretches I could use to relieve my tension and answered all my lingering questions. And since the tip is included in the price - and there's zero expectation of you to exceed it - there was no awkward scrambling for cash or anxiety of whether it would be enough. I gave her a quick hug in thanks, she had the table and everything packed up in minutes, and we both continued on with our nights - me, already at home in my favorite robe and more relaxed than I'd been in months, and her on her way out. Within a minute of her leaving I had poured a glass of wine and turned on a show. After the massage, Zeel will have you rate the service and how likely you'd be to see the same masseuse again, and the option to provide more detail. Zeel also emails you a transparent receipt. I paid $175.82 total ($149 + an 18% tip of $26.82) and it says my massage therapist made $125. The only potential downside to my at-home massage was that I live in a busy, noisy neighborhood of New York City, and sometimes the external clamor was still audible over the soothing music. Ultimately, this wasn't a big deal, but you may want to consider if total isolation is worth heading into a spa instead, depending on where you live.My main advice would be to give yourself enough time to get home, put on a robe, and clear space for the table before your massage therapist arrives - that way you don't waste any time, and you get the full benefit from being in your comfortable space, minus all possible anxiety or stress.<h2>The bottom line</h2>Overall, the experience was overwhelmingly positive. It was effortless to book, took place in my home (no driving, no public transportation, no waiting rooms, no chance to lose the zen en route home), and my massage therapist was professional, warm, and effective. I'll likely book Zeel again as a gift for friends and family or a rare treat to myself. It's not cheap, but the convenience of your massage coming to you is worth it if you're able to comfortably afford the experience. It also may likely be cheaper than what's offered at your hotel, so it's a good option for traveling. <h3><a href="http://zeel.pxf.io/c/196318/577736/9559?u=https%3A%2F%2Fwww.zeel.com%2Fmassage-on-demand" target="_blank" rel="noopener">Book a Zeel massage here</a> [use the promo code "Businessinsider" for $25 off your first massage]</h3><figure id="img-450227" contenteditable="false" data-type="img" data-e2e-name="image-figure-image" data-media-container="image"><a href="https://click.linksynergy.com/deeplink?id=EHFxW6yx8Uo&amp;mid=42392&amp;murl=https%3A%2F%2Fwww.hulu.com%2Fwelcome&amp;u1=1559938516343ai04izlhp" target="_blank" rel="noopener"></a></figure><a href="http://e.businessinsider.com/join/ci/insider-picks">Subscribe to our newsletter.</a> Find all the best offers at our <a href="https://coupons.businessinsider.com/">Coupons page</a>. Disclosure: This post is brought to you by the <a href="http://www.businessinsider.com/insiderpicks">Insider Picks</a> team. We highlight products and services you might find interesting. If you buy them, we get a small share of the revenue from the sale from our commerce partners. We frequently receive products free of charge from manufacturers to test. This does not drive our decision as to whether or not a product is featured or recommended. We operate independently from our advertising sales team. We welcome your feedback. Email us at insiderpicks@businessinsider.com.

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