Zee Entertainment turns volatile as promoters plan to sell stake

The stock was trading flat at Rs 437 on BSE at 02:28 pm, it hit a high of Rs 470 and a low of Rs 420 in intra-day trade so far.

Shares of Zee Entertainment Enterprises (ZEEL)  turned volatile after falling 4 per cent to Rs 420 on BSE in early trade on Wednesday as on Tuesday company announced that its promoters led by Subhash Chandra planning to sell up to 50 per cent of their equity stake in the company to a strategic partner.

The stock moved higher by 7 per cent to Rs 470, bouncing back 12 per cent from its early morning low. At 02:28 pm, it was trading 0.38 per cent lower at Rs 437, as compared to 0.23 per cent decline in the S&P BSE