DSIJ Mindshare

Zee Entertainment spikes up 3 per cent

Zee Entertainment Enterprises (ZEEL) saw a spurt in its share price during the morning session on Wednesday. The stock was trading at Rs. 557.45 per share, up by 3.18 per cent at 10:30 hours. The stock also hit a new 52-week high of Rs. 563.00 per share.

Earlier, in October, the company was in news for many announcements. The company announced that it has entered a deal to acquire 9X Media. The company also acquired the 26 per cent stake held by joint venture partner, Turner International India in Zee Turner Limited for Rs. 2.6 lakh. The JV was set up in 2001 to distribute Zee and Turner channels.

Also, ZEEL also announced that its promoter group Cyquator Media Services will acquire over 1 per cent stake in the company from Essel Media Ventures for approximately Rs. 516 crore.

Meanwhile, the benchmark index Nifty50 was marginally up at 10,331.45 points, up 4.55 points or 0.04 per cent, while S&P BSE Sensex was at 33,533.09 points, up 54.74 points or 0.16 per cent.

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