Stock market analyst Hemen Kapadia has maintained 'sell' rating on Zee Entertainment Enterprises Limited stock with an intraday target of Rs 299.

According to analyst, the interested investors can sell the stock at Rs 305 with a strict stop loss of Rs 308.

Mr. Kapadia said that it's better to sell the stock at the moment, otherwise, it will drop further.

Today, the stock of the company opened at Rs 293.25 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 326 and a low of Rs 228.05 on BSE.

Current EPS & P/E ratio stood at 10.47 and 28.29 respectively.

Zee Entertainment Enterprises (ZEE) has registered an increase of 18.09% in its consolidated net profit after tax (PAT), which stood at Rs 6,165.60 million, for the year ended March 31, 2010 as against the consolidated net PAT of Rs 6,165.60 million for the year ended March 31, 2009

On consolidated basis, the company's total income fell marginally by 0.55% to Rs 23,217.90 million for the year ended March 31 as against Rs 23,345.30 million for the year ended March 2009.

The company's directors have sanctioned issue of bonus shares in the proportion of 1:1 as on the record date to be declared following sanction of the members.

It also announced to pay final dividend of Rs 2 per share worth Rs 1 each, to the equity shareowners for the FY 2009-10.