Emerging risks from JIO's aggression to reach 50mn homes through its fibre network could pose risk to traditional cable TV subscription revenues in longer term. Additionally, risk of higher than estimated costs on digital platform could keep valuation in check. Nevertheless, ZEEL is doing the right things to remain a dominant player with focus on emerging content preferences. Incremental disclosures on number of paid subscriber for ZEE5 would be key monitorable. Maintain ACCUMULATE with a revised TP of Rs571 (28x...