ZEEL, NDTV: Will Zee Entertainment turn multi-bagger post NCLT clearance?

Zee Entertainment hits fresh 52-week high post approval by NCLT

Shares of Zee Entertainment hit a new 52-week high, post receiving an approval for merger with Culver Max Entertainment (Sony) from National Company Law Tribunal (NCLT) on Thursday.The stock price conquered the Decembers 2022 high, during which the proposed merger was announced. 

Furthermore, the stock up move has surpassed all the key weekly moving averages (WMA) such as 200-WMA, 100-WMA and 50-WMA on a decisive note, initiating fresh breakout.

On Friday, while share price of Zee Entertainment Enterprises witnessed a cut of over 3 per cent, other media houses followed suit.  Barring Network18 Media & Investments, all other stocks like