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Zee Entertainment surges on getting nod to acquire film production, distribution business from Zee Studios

Zee Entertainment Enterprises is currently trading at Rs. 227.30, up by 1.35 points or 0.60% from its previous closing of Rs. 225.95 on the BSE.

The scrip opened at Rs. 227.00 and has touched a high and low of Rs. 230.65 and Rs. 216.80 respectively. So far 858964 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 304.70 on 27-Dec-2019 and a 52 week low of Rs. 114.00 on 25-Mar-2020.

Last one week high and low of the scrip stood at Rs. 238.10 and Rs. 213.10 respectively. The current market cap of the company is Rs. 21841.87 crore.

The promoters holding in the company stood at 4.02%, while Institutions and Non-Institutions held 77.66% and 18.48% respectively.

Zee Entertainment Enterprises’ board has approved the acquisition of film production and distribution business as a going concern, on a slump sale basis from Zee Studios (formerly known as Essel Vision Productions), a wholly owned subsidiary of the Company, for a cash consideration, on such terms and conditions as contained in the Business Transfer Agreement (BTA). The acquisition of film production and disbbution business would inter alia result in growth opportunities in line with the strategic decisions of the Board of Directors of the company. The Board of Directors of the company at the meeting held on December 17, 2020 has approved the same.

Zee Entertainment Enterprises is one of India’s leading television media and entertainment companies. It is amongst the largest producers and aggregators of Hindi programming in the world.

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