Zee News gains despite exchanges shifting stock to T Group

Stock up 2% on huge volumes

Zee News has surged in trades despite an announcement that the stock would be shifted to the T group on both Bombay Stock Exchange and National Stock Exchange. This follows a surveillance review where the exchanges identified various scrips for restricted trading category.

The BSE would shift 71 stocks to the trade-to-trade or "T" segment, while NSE would transfer 27 scrips to this category, the exchanges said in separate notifications. Also, the exchanges have advised investors to exercise caution while trading in these stocks.

Shares of Zee News is trading at Rs 16.57 - up 2% from the previous close. Earlier in the day, it touched its highest in 52 weeks - at Rs 17.05. The counter has seen somparatively hefty trades of 1.23 million shares on the BSE, as against a two week average of 9,44,000 shares.