Zee Entertainment Shares Dip After Initial Surge
Shares of Zee Entertainment Enterprises saw a brief 4% rise before profit-taking led to a marginal decline. The company announced plans to raise over Rs 2,237 crore from promoter entities, increasing promoter shareholding to 18.4%. This move will support expansion in the Media & Entertainment sector.
- Country:
- India
Shares of Zee Entertainment Enterprises Ltd ended slightly lower on Tuesday, amid instances of profit-taking by investors.
Despite a morning surge of nearly 4%, following the company's announcement to raise Rs 2,237.44 crore from promoter entities, the stock lost momentum during the day.
The infusion, approved by the board, will see ZEEL issue convertible warrants to Altilis Technologies and Sunbright Mauritius Investments, bolstering the company's financial position and promoting growth in the Media & Entertainment sector.
(With inputs from agencies.)
Advertisement
Google News