Between the two, Sun had better growth rates than Zee in the Sept quarter
Morgan Stanley, Citigroup, Bank of America, Abvendus, ICICI Prudential MF were some of the buyers
This is the second block deal by Invesco in seven months, which offloaded 7.8% stake in Zee Entertainment in April
The identity of Zee channel offered to shut down is not known yet
As per the BARC data for the ongoing financial year (2023), the merged entity has 36 per cent TV viewership market share in the Hindi GEC segment, and 33 per cent in the Hindi movies channels.
The company had reported a net profit of Rs 208.78 crore in April-June period a year ago, Zee Entertainment Enterprises Ltd (ZEEL) said in a BSE filing.
It was alleged that the entities violated insider trading norms and disclosure lapses under SAST (Substantial Acquisition of Shares and Takeovers) regulations.
Though the stock has gained 35% over the past month, given that target prices of brokerages range between Rs 410-Rs 450 a share, there is still an upside of over 37% likely from the current levels
CEO and managing director of Zee Entertainment speaks on alliance with Sony India announced on Thursday.
Buying was seen across the board; Micap and Smallcap indices finished with gains of 1.5 per cent each, overall breadth too was extremely positive
About 53% of the merged entity would be owned by Sony and the rest by Zee's holders, according to the non-binding agreement signed in September
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As Invesco has proposed to appoint six directors on the board of Zee, it would tantamount to taking control of the company, says Zee's counsel
Accuses Invesco of wanting to merge Zee with a rival at the cost of Zee shareholders
Says he will ensure no one maligns Zee's intrinsic value, and will continue to pursue this in the best interests of shareholders, and at immense personal costs
The move follows a NCLAT order on Thursday that granted ZEEL more time to file its reply
Board sidesteps questions on corporate governance lapses
Shares of Zee Entertainment Enterprises fell 3.7 per cent and that of Bharti Infratel ended flat. The two companies will be removed from the bluechip index
The broadcaster sent teams to engage with audiences for its regional language programming
YES Bank has Rs 8,000-crore exposure to Essel Group