FIIs Bought 2,05,33,546 Shares & DIIs Bought 2,64,82,518 Shares: Penny Stock Under Rs 20; Board Announces Results For Q3FY25 & 9MFY25
The stock is up by 56.4 per cent from its 52-week low of Rs 10 per share.
Zee Media, a leading Indian media house since 1999, dominates news across TV and digital platforms. Its 15 channels reach global, national, and regional audiences. Zeenews.com connects with over 280 million users in nine languages. Their flagship Hindi channel is a top Hindi news channel. Zee Media engages its audience through various initiatives. Regional channels are leaders in their markets.
Zee News, their flagship Hindi news channel, has a strong market position. Zee Business leads the Hindi business news segment. Several regional channels hold top rankings and high engagement. Salaam TV maintains a leading market share. Zee Digital has a large user base and ranks highly among news platforms. Other regional channels and digital platforms perform strongly, providing relevant content.
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.
During the quarter and nine months ended December 31, 2024, the Board approved several key initiatives. On September 27, 2024, the Board approved the issuance of warrants for up to Rs 20,000 lakh. Following this, on November 7, 2024, the company allotted 13,33,33,333 warrants to three FPIs after receiving Rs 5,000 lakh (25 per cent of the warrant issue price). These warrants are convertible within 18 months in one or more tranches, with a warrant exercise price of Rs 11.25 (75 per cent of the issue price) and a conversion ratio of 1:1 into equity shares priced at Rs 15 (including a premium of Rs 14). Subsequently, on January 13, 2025, the Board approved raising up to Rs 40,000 lakh through various instruments, including equity shares, bonds, and warrants, subject to necessary approvals, including shareholder approval sought via postal ballot.
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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 900 crore. The stock is up by 56.4 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.