Zee Entertainment gains on inclusion in Nifty index

Zee Entertainment Enterprises rose 3.44% to Rs 298.10 at 9:21 IST on BSE as the stock will be included in the 50-share CNX Nifty index from 19 September 2014.

Meanwhile, the BSE Sensex was up 27.27 points, or 0.10%, to 26,341.56.

On BSE, so far 48,000 shares were traded in the counter, compared with an average volume of 3.73 lakh shares in the past one quarter.

The stock hit a high of Rs 299.80 and a low of Rs 293.50 so far during the day. The stock hit a 52-week high of Rs 310.75 on 16 July 2014. The stock hit a 52-week low of Rs 208.10 on 28 August 2013.

The stock had underperformed the market over the past one month till 20 August 2014, falling 2.19% compared with 2.62% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 0.07% as against Sensex's 7.95% rise.

The large-cap company has an equity capital of Rs 96.04 crore. Face value per share is Re 1.

Zee Entertainment Enterprises will replace United Spirits in the 50-share CNX Nifty index from 19 September 2014. Simultaneously, Zee Entertainment Enterprises will be excluded from CNX Nifty Junior Index.

Shares of United Spirits fell 2.02% to Rs 2,406.

On a consolidated basis, Zee Entertainment Enterprises' net profit declined 6.26% to Rs 210.57 crore on 7.57% growth in total income to Rs 1124.65 crore in Q1 June 2014 over Q1 June 2013.

Zee Entertainment Enterprises is one of India's leading television, media and entertainment companies.

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