Stock under Rs 20 In green as company makes full payment of 2,300 unrated, unlisted, secured, redeemable NCDs worth Rs 230,00,00,000
The stock is up by 87.4 per cent from its 52-week low of Rs 10 per share.
On Thursday, shares of Zee Media Corporation Limited gained 2.52 per cent to Rs 18.74 per share from its previous closing of Rs 18.28 per share. The stock’s 52-week high is Rs 26.29 per share and its 52-week low is Rs 10 per share.
Zee Media Corporation Limited on January 15, 2025, made the full payment towards the redemption of 2,300 unrated, unlisted, secured, redeemable Non-Convertible Debentures ('NCDs') bearing a face value of Rs. 10,00,000/- each, aggregating to Rs 230,00,00,000.
Earlier, Zee Media Corporation Limited's Board of Directors approved several key initiatives at its meeting. These include authorising the exploration of various funding options, including equity shares and debt instruments, to raise up to Rs 400 crore. The Board also approved increasing the shareholding limits for Foreign Portfolio Investors (FPIs) and Foreign Institutional Investors (FIIs) from 24 per cent to 49 per cent of the company's paid-up share capital, subject to shareholder approval.
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About the Company
Zee Media, a leading Indian media house since 1999, dominates news across TV and digital platforms. Their 15 channels span global, national, and regional audiences. Zeenews.com, their digital platform, reaches over 280 million users in 9 languages. Their flagship Hindi channel is #1 among Hindi news channels with 58 million viewers. Zee Media engages its audience through initiatives like "Ek Bharat Shreshtha Bharat" and "Jaipuria Business and Leadership Conclave." Their regional channels are leaders in their respective regions. Zee 24 Ghanta excelled in Durga Puja coverage. Zee Digital is India's 3rd-largest news and information platform. ZMCL's investment in Flutrr Digimate Private Limited strengthens its commitment to growth and innovation.
According to Quarterly Results (Q2FY25), the company reported net sales of Rs 131 crore and a net loss of Rs 50 crore while in its half-yearly results (H1FY25), the company reported net sales of Rs 307 crore and a net loss of Rs 60 crore. Looking at its annual results (FY24), the company reported net sales of Rs 638 crore and a net loss of Rs 98 crore.
The company has a market cap of Rs 1,170 crore. As per the BSE exchange update of November 07, 2024, FIIs bought 2,00,10,556 shares and increased their stake to 11.98 per cent compared to 8.78 per cent in September 2024. The stock is up by 87.4 per cent from its 52-week low of Rs 10 per share. Investors should keep an eye on this penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.