
ZEE stock dips as SAT refuses interim relief to Punit Goenka
SEBI this month, in another order, had barred Goenka and Chandra from the boardrooms of four Zee group companies
SEBI this month, in another order, had barred Goenka and Chandra from the boardrooms of four Zee group companies
On June 12, Zee promoters Chandra, Goenka were barred by SEBI from taking leadership roles at listed firm; regulator also sought "urgent action" against them
SEBI probe had found Zee made delayed disclosure -- 54 days in 3 instances and 27 days in 2 instances -- to exchanges over the invocation of pledged shares
BofA Securities expects Zee’s revenue growth to remain slow; awaits visibility on merger with Sony Pictures Networks
SEBI's investigation concluded that the launch of Zeeplex was Unpublished Price Sensitive Information (UPSI) which had not been considered as such by ZEE.
The stock had fallen 15% in the last six sessions after the NCLT last week allowed initiation of insolvency proceedings against the Essel Group company.
ZEEL shares dropped nearly 5% on Friday after the NSE barred the media company from the futures and options (F&O) segment of the exchange.
Invesco to pare half of its stake in ZEEL, which currently stands at 10.14%, that could fetch the investor as much as $169.5 million (around ₹1,300 crore).
The proposed merger of Zee Entertainment with Culver Max Entertainment (formerly Sony Pictures Networks India) has been approved by the BSE and the NSE.
Zee Entertainment shares dropped 3.4% to ₹281.1 after Invesco, the largest shareholder of the entertainment major, decided to trim its stake in the company.