Zeel share price

Synopsis Shares of Zee Entertainment Enterprises fell over 6% after India's Sebi barred Essel Group's chairman Subhash Chandra Goenka and his son from holding key positions in listed companies, saying they had abused their board positions by siphoning off funds for their benefit. The order could delay Zee's proposed merger with Sony Pictures Networks India, now known as Culver Max Entertainment. The regulator has directed Zee to place the order before its board within seven days. The Goenkas have 21 days to respond to Sebi's order. The Sebi order followed an investigation which found the two had abused their board positions in Zee by "siphoning off funds for their own benefit," the regulator said. The regulator has directed Zee to place the order before its board within seven days. The Goenkas have 21 days to respond to Sebi's order. Following the decision, the stock prices fell amid high volumes. At 9:30 am, more than 79.60 lakh ZEEL shares were trading on NSE. "This is an interim order, which can always be modified at a later date if it is found that suitable clarifications have been given by the erring individuals," said Ashisk K Singh, managing partner of law firm Capstone Legal. ZEEL fell to its 52-week low of Rs 175.55 on May 26 and is now trading at a 35% discount from its 52-week peak of Rs 287. The counter has underperformed the broader Nifty50 and given negative returns of over 21% in the past 12 months versus a nearly 15% rise seen in the latter according to Tre...

• Zee Entertainment Ents. has an operating revenue of Rs. 8,097.43 Cr. on a trailing 12-month basis. An annual revenue de-growth of -2% needs improvement, Pre-tax margin of 6% is okay, ROE of 0% is poor and needs improvement. The company is debt free and has a strong balance sheet enabling it to report stable earnings growth across business cycles. The stock from a technical standpoint is trading below to its 200DMA and close to its 50DMA. It needs to take out the 200DMA levels and stay above it to make any further meaningful move. From an O'Neil Methodology perspective, the stock has an EPS Rank of 10 which is a POOR score indicating inconsistency in earnings, a RS Rating of 10 which is POOR indicating the underperformance as compared to other stocks, Buyer Demand at C which is evident from recent supply seen, Group Rank of 167 indicates it belongs to a poor industry group of Media-Radio/Tv and a Master Score of D is close to being the worst. Overall, the stock has poor technical strength and poor fundamentals, there are superior stocks in the current market environment. Indicator Mar 2023 Dec 2022 Sep 2022 Jun 2022 Mar 2022 Oper Rev Qtr Cr 1,934 1,931 1,893 1,663 2,113 Operating Expenses Qtr Cr 1,808 1,556 1,643 1,424 1,564 Operating Profit Qtr Cr 126 375 250 239 549 Depreciation Qtr Cr 54 52 44 42 29 Interest Qtr Cr 39 13 8 8 37 Tax Qtr Cr 21 60 54 53 100 Net Profit Qtr Cr -351 89 177 249 322 Indicator Mar 2023 Dec 2022 Sep 2022 Jun 2022 Mar 2022 Oper Rev Qtr Cr 2,112 2...

• • • • Zee Entertainment share price surges after Rakesh Jhunjhunwala and BofA Securities buy stake Zee Entertainment share price surges after Rakesh Jhunjhunwala and BofA Securities buy stake ZEEL share price: After surging 40.06 per cent on the National Stock Exchange (NSE) on Tuesday, the stock rallied another 14.99 per cent in the intraday trade on Wednesday to hit a 52-week high of Rs 300.75 on the NSE. Shares of Zee Entertainment Enterprises (ZEEL) have been on a bull run over the past two trading sessions after ace investor Rare Enterprises Ltd and BofA Securities Europe SA bought shares of the company worth over Rs 225 crore through open market transactions. After surging 40.06 per cent on the National Stock Exchange (NSE) on Tuesday, the stock rallied another 14.99 per cent in the intraday trade on Wednesday to hit a 52-week high of Rs 300.75 on the NSE. The scrip has jumped as much as 60.96 per cent from Monday’s close of Rs 186.85. On Tuesday, Rare Enterprises bought 50 lakh scrips at Rs 220.44 per share through bulk deal transactions on NSE. BofA Securities Europe SA purchased 48.65 lakh shares at an average price of Rs 236.2 apiece. Top News Right Now • 68 murdered in Maliana, all accused acquitted 36 years later, residents ask: So who killed our families? • In appeal, Rahul says was mistreated, sentenced to attract disqualification • Kalakshetra suspends 4 teachers, appoints independent committee to probe sexual harassment allegations Click here for more Bof...