DIIs Took A Fresh Entry & FIIs Increased Their Stake: Penny Stock Under Rs 20 In Green As Board To Consider and Approve the Proposal for Fund Raising
The stock is up by 31.2 per cent from its 52-week low of Rs 10.36 per share.
On Friday, shares of Zee Media Corporation Limited surged 1.2 per cent to Rs 13.59 per share from its previous closing of Rs 13.43 per share. The stock’s 52-week high is Rs 26.29 per share and its 52-week low is Rs 10.36 per share.
Zee Media Corporation Limited informed that the Board of Directors of the company is scheduled to be held on Tuesday, April 08, 2025, inter alia, to consider and approve the proposal for fund raising through the issuance of equity shares / convertible bonds/debentures/warrants/preference shares/any other equity linked securities (“Appropriate Securities”) through permissible modes, including but not limited to a private placement, preferential issue, or any other method or combination of methods, subject to such regulatory/statutory approvals, as may be required
About the Company
Zee Media, established in 1999, is a leading Indian media house with 15 channels covering global, national, and regional news. Zeenews.com reaches over 280 million users in nine languages, and its flagship Hindi channel, Zee News, is a top performer. Zee Business leads in Hindi business news, and numerous regional channels maintain top rankings and high engagement. Their digital platforms further enhance their broad reach.
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According to Quarterly Results (Q3FY25), the company reported net sales of Rs 159.45 crore and a net loss of Rs 22.42 crore while in its nine-month results (9MFY25), the company reported net sales of Rs 466.11 crore and a net loss of Rs 82.66 crore. Looking at its annual results (FY24), the company reported net sales of Rs 638 crore and a net loss of Rs 98 crore.
In December 2024, FIIs bought 2,05,33,546 shares and increased their stake to 12.06 per cent while DIIs bought 2,64,82,518 shares and increased their stake to 4.24 per cent compared to September 2024. The company has a market cap of over Rs 800 crore. The stock is up by 31.2 per cent from its 52-week low of Rs 10.36 per share. Investors should keep an eye on this penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.