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Zee Entertainment Enterprises Ltd rose as much as 4.2 per cent to Rs 563, its highest since October 13, 2016.
Macquarie Research says there is an upside risk to its margin estimates of 31.5 per cent in FY19 and FY20. It adds that advertisement growth for H2 of FY18 will grow in mid-teens.
According to the brokerage, ZEEL has ample levers to continue its investments and still achieve 30 per cent plus margins.
The stock was the top percentage gainer on NSE index. The stock has risen 19.3 per cent this year until Tuesday, compared with a 26.2 per cent gain in the NSE index.
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