Intraday Spotlight: ZEE Entertainment soars 16 per cent as Invesco relaxes its case

The company is the leading gainer in the A group

Zee Entertainment Enterprises Ltd (ZEEL), a leading broadcasting and digital media company, has jumped by over 15.5 per cent today from its previous close of Rs 256.05. The stock opened at Rs 281.65 and has made its day high of Rs 307.25.  

As of noon today, the stock was trading near Rs 298 on the BSE. This digital media company is currently the leading gainer in group A on the BSE.     

With Sensex trading flat today, ZEEL has been flying as its prime investor Invesco relaxed its opposition to the company’s corporate action of merger with Sony India’s unit. Invesco also said that a share holders’ meeting will not be pursued. For the latest quarter ended December, the revenue declined by 22.6 per cent YoY to Rs 2,112.6 crore and the net profit slipped by 25 per cent YoY to Rs 299 crore.      

Zee Entertainment Enterprises Limited (ZEE) is a global media and entertainment conglomerate with a presence across television broadcasting, movies, music, live entertainment and digital businesses. Over the years that followed, the company grew from an Indian television broadcaster into a global content company and expanded its footprint from South Asia to almost the whole world. 

The stock has a 52-week high and low of Rs 378.60 and Rs 166.80, respectively.