ZEEL shares gain nearly 6 pc

Shares of Zee Entertainment Enterprises Ltd (ZEEL) pared its intra-day losses to end nearly 6 pc higher on Wednesday, a day after the company reported a 38 per cent decline in net profit for December quarter.

On the BSE, the stock opened at Rs 276.40 and traded between a low of Rs 272.45 and a high of Rs 303.95 during the day. It settled with a gain of 5.74 per cent over the previous close at Rs 300.25.

In terms of percentage, the maximum rise and fall stood at 7.04 per cent and 4.05 per cent, respectively.

On the NSE, the scrip lost 4.25 per cent to a low of Rs 272 and gained 7 per cent to a high of Rs 304. The scrip closed 4.89 per cent higher at Rs 298.

In terms of volume, 16.09 lakh shares were traded on the BSE and over five crore units exchanged hands on the NSE.

Moreover, the spurt in volume was more than 4.16 times on the BSE.

The market capitalisation of the company rose by over Rs 1,500 crore to Rs 28,838 crore.

ZEEL on Tuesday reported 38 per cent fall in consolidated net profit for October-December 2019 at Rs 348.60 crore, mainly on account of decline in advertising revenue.

The company had posted a profit of Rs 562.76 crore in the same period a year ago, ZEEL said in a BSE filing.