ZEE
Sensex rises 100 pts, Nifty above 24,600 steered by gains in bank & IT stocks
Indian indices turned positive with financial and IT stocks; Sensex up 110, Nifty50 rose 36. Gains by SBI, HUL, TCS, L&T Finance, LTIMindtree. Nifty Media fell. Crude stockpile decline boosted Brent futures. Rupee rose. Weaker dollar index, Nikkei down 2%. Asian markets fell. U.S elections influencing tariffs, resulting in foreign portfolio inflows.
Hot Stocks: Brokerage view on L&T Finance, Aadhar Housing, Asian Paints, Zee Ent, Eicher Motors and LTIMindtree
Goldman Sachs maintained a neutral rating on Asian Paints, reducing the target price to Rs 2,750. The company reported a significant EBITDA decline in Q1, amid ongoing headwinds and increased competitive pressure expected to persist. Meanwhile, the global brokerage upheld a buy rating on Eicher Motors with a target price of Rs 5,400
Zee board okays Rs 1,997 cr raise via convertible debt
On conversion of FCCBs to equity, Zee will issue 1,240 million fully diluted equity shares of ₹1 each to the FCCB holders at the conversion price of ₹160.20 per equity share. The date of issuance of FCCBs was July 16, and the floor price was ₹152.45 per share. The dollar-to-rupee conversion rate has been fixed at ₹83.5658 per US dollar.
Zee Entertainment to raise $239 million through 10-year FCCB issue
Earlier in a filing, the company said the FCCBs would be issued to Resonance Opportunities Fund, St. John's Wood Fund Ltd. and Ebisu Global Opportunities, on terms and conditions mutually decided between the company and the 'proposed' investors.
Shares of Zee Ent. fall as Nifty gains
On the technical charts, the 200-day moving average of the stock stood at Rs 197.61.
L&T, Tata Tech among 7 stocks to bet on ahead of Union Budget
The full Budget of the new government is slated for the next week, with strong expectations running across industries. Domestic brokerage firm Reliance Securities believes that the government is expected to strategically utilize the extra windfall one time dividend received from the RBI to encourage consumption. The brokerage has listed 7 stock ideas across sectors which could outperform and create alpha returns over the next few months as markets are at all-time high ahead of the Union Budget:
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Stocks in news: Bajaj Auto, SpiceJet, Jio Financial, HUL, Vedanta, ZEE
Domestic markets saw positive trends with various companies like Bajaj Auto, SpiceJet, and Jio Financial making news. Vedanta launches QIP issue, while HDFC AMC reports profit jump. Updates on Angel One, Vodafone Idea, Unichem Labs, and more. Stay informed on the latest developments in the financial sector.
Zee Entertainment gets shareholders' nod to raise upto Rs 2,000 crore via issue of securities
Zee's share price has steadily declined following the collapse of its planned $10 billion merger with Sony Group. After two years of negotiations, the Japanese firm made multiple filings with India's National Company Law Tribunal (NCLT) to withdraw from the deal, causing a significant setback for Zee.
Zee Ent. share price up 5.84 per cent
A total of 637,924 shares changed hands on the counter till 10:00AM (IST).
Shares of Zee Ent. rise as Nifty drops
On the technical charts, the 200-day moving average of the stock stood at Rs 199.22.
Zee Ent. shares gain 0.99% as Sensex rises
The stock quoted a 52-week high of Rs 299.5 and a 52-week low of Rs 126.15.
Zee Ent. shares drop 1.35% as Sensex falls
A total of 210,882 shares changed hands on the counter till 12:23PM (IST)
Zee Ent. shares decline 0.62% as Sensex climbs
A total of 833,653 shares changed hands on the counter till 02:05PM (IST)
Zee Ent. shares fall 1.07% as Nifty gains
A total of 416,151 shares changed hands on the counter till time (IST).
Zee Ent. share price up 1.69 per cent
A total of 318,932 shares changed hands on the counter till 11:01AM (IST).
Zee Ent. shares rise 1.92% as Nifty gains
The stock quoted a 52-week high price of Rs 299.5 and a 52-week low of Rs 126.15.
Stocks in news: MapmyIndia, YES Bank, Sanghi Industries, ZEE, Mahindra Finance
State-owned Punjab & Sind Bank has signed an initial agreement with the Indian Army on defence salary package which will come with a host of facilities, including free insurance cover.
ZEE MD & CEO Goenka acquires majority stake in Maverick Media in personal capacity
Punit Goenka's investment in Maverick Media aims to revive single-screen cinemas in underserved tier II and tier III cities across India. Goenka emphasised the immense potential of these markets and the importance of reviving this infrastructure to expand the reach of cinema.
10 BSE 100 stocks turned multibaggers in one year but Zomato, Trent beat them on this parameter
According to Ace Equities data, Trent leads the pack with a 213% return in one year and a beta of 0.70. Zomato, the food delivery platform, and Bajaj Auto, the two-wheeler company, yielded 162% and 107% respectively, with one-year betas of 0.78 and 0.42.
Zee Ent. shares rise 0.64% as Sensex climbs
A total of 429,843 shares changed hands on the counter till 10:45AM (IST)
Shares of Zee Ent. fall as Nifty drops
On the technical charts, the 200-day moving average of the stock stood at Rs 208.82.
Zee Entertainment shares decline over 4%
Zee Entertainment Enterprises' shares fell over 4% as CFO Rohit Kumar Gupta resigned. Mukund Galgali appointed as acting CFO. Recent top-level resignations include Animesh Kumar, Punit Misra, Rahul Johri, and Nitin Mittal.
Stocks in news: Paytm, Indus Towers, Vedanta, Cipla, Gland Pharma
Domestic markets start positively with Paytm, Indus Towers, Vedanta, Cipla, Gland Pharma in focus. ZEE appoints acting CFO. Tata Technologies partners with Microsoft. Wabco to sell ZF equity. Craftsman Automation launches QIP. Fosun Pharma reduces stake. Vedanta monetises steel business. Goldman Sachs sells One 97 shares; Vodafone sells Indus Towers shares; Generative AI hackathon.
Zee's plan to raise Rs 2,000 crore gets board's approval
Zee Entertainment Enterprises approves ₹2,000 crore fundraising to enhance balance sheet post Sony merger failure, aiming for strategic growth in media landscape.
ZEE board approves raising upto Rs 2,000 crore through equity or other modes
ZEE's board approved raising up to Rs 2,000 crore via equity shares or eligible securities in one or more tranches. This move follows the collapse of the $10 billion Sony merger in January. The company aims to bolster finances after announcing cost-cutting measures, including workforce reduction.
Stocks in news: ZEE, M&M Financial, Dr Reddy's, Wipro, Biocon
Domestic markets rally on exit polls predicting Modi government's massive mandate. ZEE, M&M Financial, Dr Reddy's, Wipro, Biocon in focus. ZEE to discuss fundraising. M&M Financial reports increased disbursements. Dr Reddy's opens biologics facility in Hyderabad. ICICI Bank partners with Adani One for co-branded credit cards with airport-linked benefits. RVNL awarded Rs 440 crore project by South Central Railway.
ZEE to consider fundraising proposal via equity or other modes on June 6
"A meeting of the Board of Directors is scheduled to be held on June 6 to consider raising of funds by way of issuance of equity shares and/or any other eligible securities through permissible modes, including but not limited to a private placement, a qualified institutions placement, preferential issue, or any other method or combination of methods," the company said in a filing.
Zee’s finances on the mend, still wait for bigger picture
Zee’s consolidated revenue grew by 10% year-on-year to Rs 2,170 crore in the March 2024 quarter. This was 8% higher than the street’s estimates. A large part of this growth was on account of 10% growth in the advertising revenue at Rs1,110 crore, beating the analysts’ estimates by 16%.
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