ZEE rises on plan to take media business operations from DMCL

18 Dec 2013 Evaluate

Zee Entertainment Enterprises (ZEE) is currently trading at Rs. 286.00, up by 0.65 points or 0.23% from its previous closing of Rs. 285.35 on the BSE.

The scrip opened at Rs. 287.00 and has touched a high and low of Rs. 289.30 and Rs. 284.30 respectively. So far 36145 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 291.95 on 17-Dec-2013 and a 52 week low of Rs. 194.30 on 16-Apr-2013.

Last one week high and low of the scrip stood at Rs. 291.95 and Rs. 274.00 respectively. The current market cap of the company is Rs. 27713.02 crore.

The promoters holding in the company stood at 43.09% while Institutions and Non-Institutions held 50.00% and 6.91% respectively.

Zee Entertainment Enterprises (ZEE) has received board’s approval to demerge its media business operations from Diligent Media Corporation (DMCL) and vested it into itself. The undertakings comprise of media and entertainment business, event management activities, TV channel license and TV reality shows formats for game based shows.

The new arrangement will be effective from March 31, 2014, while the scheme will be subject to necessary approvals from the shareholders and regulatory authorities.

Further, ZEEL will issue 2.23 crore preference shares of Rs 1 each to the shareholders of DMCL under the deal.

Zee Entertainment is India’s largest vertically integrated media and Entertainment Company. Its portfolio consists of brands like Zee TV, Zee Cinema, Zee Music, Zee Cafe, Zee Smile, Zee Action, Zee Premiere, ETC, ETC Punjabi, TEN Sports, Zee Studio, Zee Classic, Zee Trendz and Zee Sports.

Zee Entertainment Share Price

125.05 -5.40 (-4.14%)
20-Dec-2024 16:59 View Price Chart
Peers
Company Name CMP
Zee Entertainment 125.05
Sun TV Network 697.40
GTPL Hathway 138.75
Network 18 Media Inv 74.34
Den Networks 42.58
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