Quotes not rendering properly in javascript in mvc view

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Javascript

MVC

I have a script tag like below in my partial view :

<script>
$(function () {
    $.ajax({
        type: "GET",
        url: "/api/ChartsAPI/2",
        dataType: "json",
        success: function (seriesData) {

            console.log(seriesData);

            $("#chart").kendoChart({
                dataSource: {
                    data: seriesData
                },
                series: [{
                    field: "yaxisData",
                    name: "Average"
                }],
                title:
                   { @ViewBag.PlaceHolder }
            });
        }
    });
})
</script>

In my controller the view bag data is populated like below :

ViewBag.PlaceHolder = "text:'test'";

But with this configuration, the chart is not getting rendered correctly as the chart text for the title is being rendered as below :

text:'test'

How to get rid of the ascii for the qutoes in javascript.