Page 7 - Zee Entertainment

RIL-Disney 'game-changing' deal gets a thumbs-up from analysts

The development will be negative for other players such as Zee, analysts said, who will now have to compete with a much larger entity

Sony withdraws agreement to merge India operations with Zee from NCLT

While the court filings officially bring the curtain down on the long-drawn saga that was beset by delays, drama over who'll lead the merged entity and a regulatory probe on Zee's founders

Zee Entertainment tanks 10% in 2 days, stock nears 52-week low

The counter saw heavy volumes of around 35.64 million equity shares changing hands on the NSE and BSE till 11:09 am on Thursday

Zee, Paytm top Nifty 500 losers so far in 2024; will the fall continue?

As many as 10 stocks within the Nifty 500 space have declined over 20 per cent so far in 2024. These are the key levels to watch out, suggest charts.

Zee saga: Sony's spurned target shows pitfalls of tempting Indian M&A

To foreign investors, the Sony-Zee saga is a reminder of the need to approach Indian deals with an abundance of caution

Zee forms independent advisory panel to curb erosion of investor wealth

Zee Entertainment Enterprises Ltd on Friday said its board has constituted an independent advisory committee headed by Satish Chandra, retired judge of Allahabad High Court, to curb erosion of its investor wealth in the wake of speculations, leading to negative public opinion of the company. Earlier this week, media reports said market regulator Sebi has found financial discrepancies in the accounts of the company, although it asserted that the reports-related accounting issues are "incorrect and false". "The board of ZEE Entertainment Enterprises Ltd (ZEEL), has approved to constitute an independent advisory committee that will enable it to review and take cognizance of the widespread circulation of misinformation, market rumours, and speculation that has led to the formation of negative public opinion about the company and consequent erosion of investor wealth," ZEEL said in a statement. The committee will be presided by Dr Satish Chandra, a former judge of Allahabad High Court.

Sebi to question Subhash Chandra, Punit Goenka on fund diversion: Report

This comes just a day after media reports suggested that Sebi has found an accounting 'hole' of Rs 2,000 crore in Zee's books

Stocks to Watch today: RIL, LTIMindtree, Marurti, NBCC, Axis Bk, Zee, Sugar

Stocks to watch on Thursday, February 22, 2024: As many as 15 stocks are in F&O ban today including Ashok Leyland, Balrampur Chini, Biocon, India Cement, PVR Inox and Zee Entertainment.

Mutual funds pare holdings in Zee Ent by 40% post Sony merger deal fallout

Shares held by active MF schemes decline 40% to 173 million

Mystery thickens in Zee fund diversion case amid reports of accounting hole

Stock tanks 14% amid reports of 10x fund diversion; Sebi final order expected by mid-April

SAT to hear Subhash Chandra's appeal in fund diversion case tomorrow

In the same order, issued in August 2023, Chandra's son Punit Goenka was granted relief by the tribunal

Zee Entertainment sinks 14% amid report of Rs 2,000-cr fund diversion

Bloomberg reported that market regulator Securities and Exchange Board of India (Sebi) has found a hole of more than $240 million in the accounts of ZEE

Stocks to Watch today: Zee, Hindalco, RIL, Tata Power, Paytm, TVS Supply

Stocks to watch on Wednesday, February 21, 2024: In news today - Sebi finds Rs 2,000 cr fund diversion in Zee; Hindalco arm files IPO papers in US; Rolls Royce extends pact with TVS Supply Chain.

Another blow to Zee Entertainment: Sebi uncovers $241 mn accounting issue

As part of its investigation into the Zee founders, the Securities and Exchange Board of India, or Sebi, found that about Rs 2,000 crore ($241 million) may have been diverted from the company

Zee Entertainment reaches out to Sony to revive terminated merger

Zee Entertainment Enterprises Ltd (ZEEL) is seeking rapprochement with Sony Group as it makes a last-ditch effort to resurrect a USD 10 billion merger, according to industry sources. After the Japanese multinational firm pulled the plug on its USD 10 billion merger deal in January, the Indian company reached out again to Sony to reconsider the termination and offered for talks this month, a source said. On the other hand, Sony is understood to be evaluating the proposal from Zee. Comments from Sony Picture Networks India could not be obtained as an e-mailed query remained unanswered. A Zee spokesperson said, Since the matter is subjudice we have no comments to offer. Another source said ZEEL never stopped working for a possible reconciliation dialogue citing that it was ZEEL that moved to NCLT to make the merger happen. The ball is in Sony's court. They need to respond if the deal has to be revived, the source said. The development comes amidst the two parties filing cases again

Zee Entertainment soars 12% on reports of fresh merger discussion with Sony

ZEEL and Sony Group are in discussions that may save the $10 billion merger that the Japanese conglomerate had called off on January 22

Zee, Sony in discussions to save the called off $10 billion merger: Report

Sony-Zee merger: Punit Goenka, managing director and chief executive officer at ZEEL, has agreed to Sony's demand of him not becoming the CEO of the merged entity

We will find another opportunity in India post Zee merger collapse: Sony

With the proposed merger of its Indian arm with Zee terminated, Sony will seek various options, including finding another opportunity to replace the plan and organic growth opportunities in India, which has great potential in the long term, according to a top company official. In an earnings call, Hiroki Totoki, president, COO & CFO of Sony said India is a very appealing market where it would continue to invest. "India on a long term basis has a great growth potential. It's a very appealing market. Therefore, we will try to seek various opportunities and if we can find another opportunity that would replace this type of plan," Totoki said when asked about the company's strategy in India after the termination of the proposed merger. On the investment which Sony had committed as part of the deal, he said:"Well, that investment is not going to change a capital allocation or it will not change our behaviour in our investment. So at the moment, we do not have any concrete plans." The ..

Zee Entertainment aspires for 8-10 pc revenue growth, says Goenka

Zee Entertainment Enterprise Ltd (ZEEL) is focusing on a three-pronged approach -- frugality, optimisation and sharp focus on quality content -- for the company's future, said its Managing Director and CEO Punit Goenka on Tuesday. The company aspires for an 8 to 10 per cent CAGR revenue growth, with digital business growing at a much faster pace, he said. "Going forward, there will be a sharper emphasis on frugality, with a crystal-clear focus on quality and output," said Goenka in the first earning call of the company, after the deal to merge with Sony Pictures Entertainment collapsed last month. Across verticals including technology, content and marketing, ZEEL is implementing steps to optimise spending and enhance the return on investments. "The three-pronged approach will elevate and further streamline our existing capabilities in line with our robust growth plans. The results of these structured steps over the next few quarters will start reflecting in the company's ...

Zee Entertainment Q3 results: Profit more than doubles to Rs 58.5 crore

Zee's profit rose to Rs 58.5 crore ($7.05 million) for the three months ended Dec. 31 from Rs 24.3 crore a year ago