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What is the story about?
Shares of Zee Entertainment Enterprises
Ltd. are in focus on Tuesday, June 2, after global brokerage firm CLSA reiterated its positive view on the stock.
CLSA maintained an 'Outperform' rating and a price target of ₹125 per share. The target price implies a potential upside of nearly 31% from Monday's closing level.
The brokerage highlighted Zee's recent acquisition of broadcasting and streaming rights for 39 global FIFA events in India, including the FIFA World Cup 2026 and FIFA World Cup 2030.
Under the agreement, Zee will televise and stream FIFA tournaments in India over the next eight years through its sports channels and streaming platform, ZEE5.
CLSA believes the deal strengthens Zee's position in the sports broadcasting ecosystem.
While cricket continues to dominate sports viewership and advertising revenue in India, the brokerage said that football remains the world's most-watched sport, and the FIFA rights could help Zee expand its sports advertising and subscription revenues.
The brokerage also pointed out that Zee appears to have secured the rights at a relatively attractive valuation. According to reports cited by CLSA, the company paid less than $60 million for the package, lower than the nearly ₹450 crore spent by the former Viacom18 for the 2022 FIFA World Cup rights.
CLSA estimates that India's sports media market generated revenue of about ₹22,300 crore in calendar year 2025, with cricket accounting for nearly 90% of the total.
Apart from the FIFA rights win, the brokerage remains constructive on Zee due to improving fundamentals. It said that ZEE5 has reached breakeven, while the company continues to maintain a strong balance sheet with cash reserves of around ₹2,760 crore.
CLSA also considers the stock attractively valued, trading at less than one times sales and around 12 times its FY27 earnings estimate.
Shares of Zee Entertainment were trading 0.31% higher at ₹96.09. The stock has gained about 6% so far in 2026.
CLSA maintained an 'Outperform' rating and a price target of ₹125 per share. The target price implies a potential upside of nearly 31% from Monday's closing level.
The brokerage highlighted Zee's recent acquisition of broadcasting and streaming rights for 39 global FIFA events in India, including the FIFA World Cup 2026 and FIFA World Cup 2030.
Under the agreement, Zee will televise and stream FIFA tournaments in India over the next eight years through its sports channels and streaming platform, ZEE5.
CLSA believes the deal strengthens Zee's position in the sports broadcasting ecosystem.
While cricket continues to dominate sports viewership and advertising revenue in India, the brokerage said that football remains the world's most-watched sport, and the FIFA rights could help Zee expand its sports advertising and subscription revenues.
The brokerage also pointed out that Zee appears to have secured the rights at a relatively attractive valuation. According to reports cited by CLSA, the company paid less than $60 million for the package, lower than the nearly ₹450 crore spent by the former Viacom18 for the 2022 FIFA World Cup rights.
CLSA estimates that India's sports media market generated revenue of about ₹22,300 crore in calendar year 2025, with cricket accounting for nearly 90% of the total.
Apart from the FIFA rights win, the brokerage remains constructive on Zee due to improving fundamentals. It said that ZEE5 has reached breakeven, while the company continues to maintain a strong balance sheet with cash reserves of around ₹2,760 crore.
CLSA also considers the stock attractively valued, trading at less than one times sales and around 12 times its FY27 earnings estimate.
Shares of Zee Entertainment were trading 0.31% higher at ₹96.09. The stock has gained about 6% so far in 2026.
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