Multibagger Penny Stock Under Rs 25 In Focus As Board Likely To Raise Funds in One or More Tranches
The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 10 per share.
On Thursday, shares of Zee Media Corporation Limited plunged 2.4 per cent to Rs 20.63 per share from its previous closing of Rs 21.14 per share. The stock’s 52-week high is Rs 26.29 per share and its 52-week low is Rs 10 per share.
The Company is scheduled to hold a Board Meeting on Monday, January 13, 2025. Key agenda items include considering and discussing fund-raising options. This may involve issuing equity shares, other instruments representing equity, or convertible securities linked to equity. Potential methods include further public issue, right issue, ADRs/GDRs/FCCBs, debt issue, preferential allotment, private placement, qualified institutions placement (QIP), or any other permissible method. All fund-raising activities will be subject to applicable laws and require necessary approvals from governmental, statutory, and regulatory bodies, including the approval of the Company's Members.
Zee Media (ZMCL), a leading Indian media house since 1999, dominates news across TV and digital platforms. Their 15 TV channels span global, national, and regional audiences. Zeenews.com, their digital giant, reaches over 280 million users in 9 languages. Their flagship Hindi channel, Zee News, 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 2024." Their regional channels, Zee Bihar Jharkhand and Zee Rajasthan are #2 in their respective regions. Zee 24 Ghanta excelled in Durga Puja coverage. With 1.9 billion page views and 214 million monthly active users, Zee Digital is India's 3rd-largest news and information platform. ZMCL's investment in Flutrr Digimate Private Limited reinforces its commitment to growth and tech advancement.
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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 1,291 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 gave multibagger returns of over 100 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.