Zee Entertainment hits over four-year low; tanks 52% thus far in CY 2024

Analysts at Emkay Global Financial Services said Zee's near-term performance is likely to further deteriorate from current levels

Shares of Zee Entertainment Enterprises (ZEEL) were reeling under selling pressure for a second straight day on Tuesday, hitting an over four-year low of Rs 132.55. The stock fell 3 per cent on the BSE in today's intraday trade amid heavy volumes.

The stock of  the TV broadcasting & software production company was trading at its lowest level since April 2020. In the past two trading days, the stock price has slipped 7 per cent, while in the past one month, it has dipped 12 per cent. Besides, thus far in calendar year 2024 (CY 2024), the stock price of