98 Per Cent Returns From 52-Weel Low: Penny Stock Under Rs 20 Hit Upper Circuit On December 02
The stock is up by 98 per cent from its 52-week low of Rs 10 per share.
A stalwart in the Indian media landscape since 1999, Zee Media Corporation Ltd (ZMCL) is a powerhouse in news and broadcasting. Their reach extends across television and digital platforms. With a robust network of 15 TV news channels, catering to global, national, and regional audiences, they stay at the forefront of the industry. Additionally, their digital presence through Zeenews.com is unparalleled, reaching over 280 million users in 9 languages. Zee News, their flagship Hindi channel, has witnessed phenomenal growth, securing the coveted 4th position with 58 million viewers and claiming the top spot among Hindi news channels.
Zee News actively engages its audience through initiatives like "Ek Bharat Shreshtha Bharat" and "Jaipuria Business and Leadership Conclave 2024." The network's regional dominance is evident with Zee Bihar Jharkhand and Zee Rajasthan securing the second spot in their respective regions. Zee 24 Ghanta also excelled in Durga Puja coverage. Zee Digital boasts a strong online presence with 1.9 billion page views and 214 million monthly active users, solidifying its position as the third-largest news and information player. Zee Media Corporation Limited's strategic investment in Flutrr Digimate Private Limited further strengthens its commitment to growth and technological advancement.
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Zee Media Corporation Ltd. (ZMCL) has raised Rs 49,99,99,999 by issuing 13,33,33,333 fully convertible warrants to three foreign institutional investors: UNICO Global Opportunities Fund Limited, Ebisu Global Opportunities Fund Limited, and AL Maha Investment Fund PCC - Onyx Strategy. These investors paid 25 per cent of the warrant price upfront, and the remaining 75 per cent will be paid upon conversion into 13.33 crore equity shares of ZMCL for Rs 15 per share within 18 months.
On Monday, shares of Zee Media Corporation Limited hit a 5 per cent upper circuit to Rs 19.80 per share from its previous closing of Rs 18.86 per share. The stock is up by 98 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.