Zee News Buy Call

Day traders are suggested to purchase Zee News stock with a strict stop loss of Rs 57. The upper resistant target for the day is Rs 65. The stock has down support of Rs 54.

The stock pricing becomes more attractive, and reach above Rs 68, if the stock markets remain positive.

On Monday (18 Feb), the share closed at Rs 59.20 on BSE. The stock of the company has touched 52-week high of Rs 92 and low of Rs 33.65 on BSE.

Zee News has announced a phenomenal jump in net profit for the three months period ended December 2007. During the quarter, the company saw a 38.25% rise in profit to Rs 128.30 million from Rs 92.80 million in the quarter ended December 2006.

Net sales for the quarter declined 42.63% to Rs 955.30 million, while the total income dropped 45.47% to Rs 957.40 million.

The basic and diluted EPS, after extraordinary items, augmented 35.89% to Rs 0.53 for the quarter ended December 2007 from Rs 0.39 for the same quarter, last year.

Zee News owns and runs nine news/current affairs and regional entertainment channels including Zee News, Zee Business, Zee Marathi, Zee Bangla, Zee Punjabi, Zee Gujarati, Zee Telugu, Zee Kannada and Zee 24 Taas. ZEE News also supplies content to the worldwide broadcasting business of Zee in USA, Europe, Africa, Middle East and Asia Pacific.

The stocks of other companies from the same sector, which are looking good for short and medium-term trading, include TV 18, Sun TV Network and Dish TV India.

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