Promoters Bought 21,97,375 Shares: Media & Entertainment Penny Stock Under Rs 20, Jumps 18.3 Per Cent & Hit 52-Week High On September 26
The shares of the company saw a spurt in volume by more than 3 times on BSE and stock is up by 85.6 per cent from its 52-week low of Rs 10 per share.
On Thursday, one of the Top Gainers on BSE, shares of Zee Media Corporation Limited jumped 18.3 per cent and hit a 52-week high of Rs 18.56 per share from its previous closing of Rs 15.69 per share. The shares of the company saw a spurt in volume by more than 3 times on BSE and stock is up by 85.6 per cent from its 52-week low of Rs 10 per share.
The company informed that a meeting of the Board of Directors of Zee Media Corporation Limited is scheduled to be held on Friday, September 27, 2024, inter-alia, to consider and approve the raising of the funds through the issuance of permissible instruments/securities, in one or more tranches, by way of private placement, qualified institutions placement, preferential issue, or any other method or combination thereof, along with the terms and conditions, subject to such approvals, as may be required.
Zee Media Corporation Ltd (ZMCL), established in 1999, is a major player in the Indian news and broadcasting industry. With a presence across television and digital platforms, ZMCL reaches a vast audience. Their core business lies in broadcasting news and current affairs, along with regional entertainment channels.
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ZMCL boasts an impressive network of 15 news channels, including a global channel, 3 national channels, and 11 regional channels. This extensive reach caters to viewers across India and provides diverse news coverage in multiple languages. Additionally, their digital platform, Zeenews.com, offers news in 9 languages, further expanding their reach to over 280 million users.
The company has a market cap of over Rs 1,100 crore and promoters bought 21,97,375 shares and increased their stake to 0.42 per cent in June 2024 compared to 0.07 per cent in March 2024. Investors should keep an eye on this penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.