October 11, 2018 / 7:51 AM / a month ago

BUZZ-India's Zee Entertainment hits 1-month high on robust qtrly revenue

** Shares of Zee Entertainment Enterprises Ltd rise 4.2 pct to a one-month high of 479 rupees in a weaker market

** Co posted bit.ly/2C6FvfD on Wednesday 22.7 pct rise in qtrly advertising revenue and 21.3 pct climb in subscription revenue

** Qtrly total revenue rose 24.9 pct to 19.8 bln rupees ($266.59 mln), beating consensus mean estimate of 18.48 bln rupees, according to Thomson Reuters I/B/E/S

** Citi raises TP to 550 rupees from 540 rupees; says operating metrics for Zee5 have positively surprised and it could see co as the best play on the macro trend of increasing online video consumption if it continues to execute in this manner

** Zee5, a video-on-demand website run by Zee Entertainment, had 41.3 mln monthly active users in Sept, up 190 pct from April

** About 7.5 mln Zee shares change hands, compared with the 30-day moving avg of 3.3 mln shares

** Stock down 21 pct this year as of last close ($1 = 74.2725 Indian rupees)

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