Head Lines
    Headlines
  • China pumps $14bn in cash into market amid Evergrande crisis
  • Artificial intelligence is taking over real estate – here’s what that means for homebuyers
  • Trending Entertainment News Today: Sherlyn Chopra makes shocking revelations in Raj Kundra pornography case, Rakhi Sawant trends o
  • Mindy Kaling acknowledges Reese Witherspoon as “great parenting advice” | Entertainment News
  • Raghav Chadha calls Sidhu ‘Rakhi Sawant of Punjab politics’, latter hits back with ape comment
  • Political battle continues in Punjab Cong; CLP to meet today in Chandigarh
  • International Flights: UK Relaxes Travel Restrictions For Fully Vaccinated Indians From Oct 4
  • New system for international travel
  • Virginia woman get 12 years in prison for one of the biggest coupon scams in US history
  • Three of ATM fraud gang nabbed
  • Blogger’s Park: Mixing Bollywood with animation
  • Rik Mayall and Ade Edmondson’s Bottom turns 30: A rude, crude and deplorable sitcom – that’s why it was the best
  • Fortified rice: Added benefits, hidden costs?
  • Getting the first dose of COVID-19 vaccine boosts mental health
  • Virat Kohli to quit T20I captaincy after World Cup: A very unselfish decision, says Michael Vaughan
  • T20 World Cup: Discarded leg-spinner Yuzvendra Chahal takes a dig at selectors with ‘faster spinner’ comment
  • Railways planning major restructuring
  • Somalia accuses Djibouti of detaining national security adviser

NSE 31.01 % and other group stocks were in high demand on Tuesday amidst buzz over a rejig of the company's board.


Invesco, the largest shareholder in Zee Entertainment, has called for the removal of managing director Punit Goenka amid a deepening divide between the fund and the company’s founders.

Furthermore, Manish Chokhani and Ashok Kurien has resigned from the position of non-executive non-independent directors of the company with immediate effect. The company told this to bourses in a regulatory filing.

nvesco had also demanded appointment of multiple independent directors in the company, Zee said a separate filing.

Following the update, shares of Zee Entertainment soared over 24 per cent to Rs 232.15 on Tuesday, before trading at Rs 225.85 at 10.10 am. The scrip had settled at Rs 186.80 on Monday.

Other Zee Group firms like Zee Learn soared 17 per cent to Rs 15.17. BSE Sensex was trading at 183.32 points, or 0.32 per cent, higher at the same time.

Shares of Dish TV and Zee Media Corporation (ZMCL) were locked at their upper circuit limits. Dish TV soared 10 per cent to Rs 21.31, whereas ZMCL added 5 per cent to Rs 10.44.

A ZEE spokesperson told ET that the company will take “necessary action as per applicable law,” without elaborating, in response to queries.

"Corporate governance was the biggest roadblock for Zee Ltd. The recent development of EGM for removal of directors is changing sentiments for the group," said Santosh Meena, Head of Research, Swastika Investmart.
 
"Zee has a big brand and network along with strong operations where the only concern was management. The stock is trading at very attractive valuations and it is one of the strongest and FII-favorite stocks in the media space," he added.
 
 

 

comments

No Comments Till Now.

Write Your Story