Essel Group shares trade weak; Zee Ent, Zee Media, Dish TV down 10%

ZEE shares have tumbled 10 per cent to Rs 310, falling 28 per cent thus far in the month of May. In comparison, the S&P BSE Sensex dipped 4 per cent during the period.

Shares of Subhash Chandra-led Essel Group companies were under pressure on Wednesday with Zee Entertainment Enterprises (ZEE), Dish TV India and ZEE Media Corporation falling by up to 11 per cent on the BSE on the back of heavy volumes.

Zee Media Corporation plunged 11 per cent to Rs 12.88 after the company reported a consolidated net loss of Rs 86.66 crore, due to one-time loss of Rs 103 crore in March quarter (Q4FY19). It had posted profit of Rs 4.48 crore in the year-ago quarter.

The company’s Q4 operational revenue slipped 4 per cent at Rs 169