Promoters Bought 74,87,000 Shares: Penny Stock Under Rs 25 Surges Over 5 Per Cent From Intraday Low; Do You Own It?

The company’s promoters bought 74,87,000 shares and increased their stake to 1.62 per cent in September 2024 compared to 0.42 per cent in June 2024.

On Monday, shares of Zee Media Corporation Limited surged over 5 per cent to Rs 21.40 per share from its intraday low of Rs 19.46 per share. The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 10 per share. The company’s promoters bought 74,87,000 shares and increased their stake to 1.62 per cent in September 2024 compared to 0.42 per cent in June 2024.

A major force in Indian media since 1999, Zee Media Corporation Ltd (ZMCL) dominates news and broadcasting across television and digital platforms. Their core business lies in broadcasting news, current affairs, and regional entertainment, reaching a vast audience through an impressive network of 15 TV news channels (including global, national, and regional options) and a robust digital presence with Zeenews.com offering news in 9 languages to over 280 million users.

Zee News, our flagship Hindi news channel, has made significant strides in recent times. It has successfully climbed the ranks to secure the 4th position with a remarkable 58 million viewers. This impressive growth is a testament to the channel's commitment to delivering high-quality news content. The channel's share has also improved, placing it among the top Hindi news channels in the country.

Beyond its core news offerings, Zee News has actively engaged with the audience through various initiatives. The 'Ek Bharat Shreshtha Bharat' event brought together influential figures to discuss India's future. Similarly, the 'Jaipuria Business and Leadership Conclave 2024' provided a platform for industry leaders to share their insights.

Our regional channels continue to dominate their respective markets. Zee Bihar Jharkhand and Zee Rajasthan secured the second position in their regions, showcasing their strong connection with local audiences. Zee 24 Ghanta excelled in covering the significant cultural event of Durga Puja, while Zee Madhya Pradesh Chhattisgarh and Zee Uttar Pradesh Uttarakhand maintained their leadership positions.

Zee Digital, our digital portfolio, has witnessed substantial growth with 1.9 billion page views and 214 million monthly active users in Q2FY25. This impressive performance has solidified our position as the third-largest player in the news and information category.

Additionally, Zee Media Corporation Limited has taken a significant step towards expanding its technological capabilities by investing in Flutrr Digimate Private Limited. This strategic move, facilitated by Zee Akaash News Private Limited, involves a substantial investment of Rs 3,75,22,391 in equity shares and convertible warrants of Flutrr. This investment is not a related party transaction and is expected to be finalized by the end of December 2024.

 Furthermore, Zee Media has issued warrants worth Rs 200 crore to non-promoter entities, including foreign institutional investors like UNICO Global Opportunities Fund Limited, AL Maha Investment Fund PCC - Onyx Strategy, and Ebisu Global Opportunities Fund Limited, showcasing strong investor confidence in the company's future growth prospects.

Investors should keep an eye on this penny stock.

Disclaimer: The article is for informational purposes only and not investment advice.