Zee
Zee stock soars after landing FIFA World Cup 2026 rights; CLSA sees 31% upside
Mumbai/IBNS: Shares of Zee Entertainment Enterprises Ltd. surged on Monday after the broadcaster secured exclusive media rights to televise FIFA events in India, ending months of uncertainty over the broadcasting of the FIFA World Cup 2026 in the country.
The stock jumped as much as 6.4 percent during intraday trade before trimming some gains to trade comfortably over 5 percent higher in the afternoon session.
CLSA Sees Upside
Global brokerage firm CLSA retained its "Outperform" rating on the stock and set a target price of Rs. 125 per share.
The target implies a potential upside of around 31 percent from Zee Entertainment's Monday closing price.
Major FIFA Rights Deal
Zee has acquired the rights to broadcast 39 FIFA events, including the FIFA World Cup 2026 and FIFA World Cup 2030.
Under the agreement, the company will televise and stream FIFA tournaments in India over the next eight years through its sports channels and OTT platform Zee5.
The deal significantly strengthens Zee's sports portfolio and positions the company to tap into India's growing football audience.
Uncertainty Over FIFA World Cup Broadcast in India
The announcement comes after prolonged uncertainty over the broadcast and streaming rights for FIFA events in India.
Unlike previous editions of the World Cup, where rights holders were announced well in advance, no broadcaster had secured the FIFA World Cup 2026 rights for the Indian market until now, leading to speculation within the sports media industry.
The delay had raised questions among football fans and advertisers alike, especially as competition for premium sports content intensified among television networks and streaming platforms.
With the rights now secured, Zee is expected to play a central role in bringing FIFA's marquee tournaments to Indian audiences, including the expanded 48-team FIFA World Cup in 2026, which will be jointly hosted by the United States, Canada and Mexico.
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