Shares of Zee Entertainment Enterprises fell by over three per cent on Tuesday after promoters of the company sold their stake.
The company’s scrip declined 2.98 per cent to close at Rs 418.10 on the Bombay Stock Exchange (BSE). During the day, it dropped 6.43 per cent to Rs 403.20.
On the National Stock Exchange (NSE), it closed at Rs 417.70, lower by 3.24 per cent.
On the latest disclosure to the exchanges, pertaining to sale of shares, a company spokesperson said, “Essel Group wishes to clarify that none of the lenders with whom the agreement has been reached have sold any shares. The understanding with the lenders stays firm and constant, and the group is thankful to them for their support and trust.”
Other group stocks also fell, with Zee Media Corporation down 3.50 per cent and Zee Learn 3.02 per cent on BSE.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.