Zee Entertainment trades lower for fifth straight day, falls 15% in a week

The development is a negative for ZEE on the sentimental as well as corporate governance front, ICICI Securities said

Shares of Zee Entertainment Enterprises (ZEE) continued to remain under pressure at the bourses and slipped 3 per cent to Rs 184 on the BSE on Tuesday. The stock has now fallen 8.5 per cent in the past two trading days, after media reports indicated that Siti Networks has defaulted on loan amount of Rs 400 crore against which ZEE has given corporate guarantee of Rs 116 crore.

The broadcasting & cable TV operator's stock was trading lower for the fifth straight day. In the past week, it has slipped 15 per cent, as compared to 4.7 per cent rise