ZEEL jumps after foreign fund buys stake
Zee Entertainment Enterprises surged 8.63% to Rs 164.95 after Florida Retirement System picked up 0.53% stake in the media company via a bulk deal on 22 April 2020.
Florida Retirement System has acquired 51,09,188 equity shares, or 0.53% equity, of Zee Entertainment Enterprises (ZEEL) at an average price of Rs 141.29 per share on 22 April 2020 via bulk deal on NSE.
Shares of ZEEL jumped 27.62% in two sessions from its recent closing low of Rs 129.25 recorded on 21 April 2020.
On a consolidated basis, ZEEL's net profit fell 37.9% to Rs 349.43 crore on 5.5% decline in net sales to Rs 2,048.65 crore in Q3 December 2019 over Q3 December 2018.
ZEEL is a media and entertainment company engaged in providing broadcasting services.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Apr 23 2020 | 11:42 AM IST