Essel Group stocks witness frenzied buying; Zee Entertainment zooms 40%

Analysts positive on institutional shareholders Invesco, OFI Global's call for removal of Goenka as director

Shares of Zee Entertainment Enterprises rose 40 per cent to Rs 261.50 apiece on the BSE on Tuesday after Inv­esco Developing Markets Fund and OFI Global China Fund LLc, which own a combined 17.88 per cent of the company, called for an extraordinary shareholders’ meeting to remove Punit Goenka (promoter) as director.
 
They also called for the removal of two non-executive directors Manish Chokhani and Ashok Kurien, who resigned on Monday. Additionally, they have sought appointment of six independent directors on the board.
 
The stock trades in the futures & option (F&O) segment, which has no circuit limits.