Zee Leisure slips for sixth consecutive day, falls by 10% to hit 5-year low




Shares of Zee Leisure Enterprises (ZEEL) slipped for the sixth consecutive day on Monday. The inventory fell 10 per cent to a five-year low of Rs 269 in an intra-day deal in a robust market. It was buying and selling at its lowest stage since August 14, 2014 on the BSE. Compared, the S&P BSE Sensex and Nifty 50 indices had been up 3-3 per cent every.

Until the writing of this report, this counter witnessed enormous buying and selling quantity with 26.6 million fairness shares, which was 3 per cent of the full fairness of ZEE, altering fingers on NSE and BSE.

Within the final three days, the Essel Group firm’s inventory has fallen 19 per cent after promoter Subhash Chandra was requested by a court docket to not promote his un-pledged stake within the firm until subsequent month.

ZEEL’s share worth has fallen 27 per cent to this point in September, whereas the S&P BSE Sensex has gained 5 per cent. Buyers have misplaced market property value Rs 9,840 crore in ZEEL to this point.

Essel Group, which owns ZEEL, reached an settlement in January, below which the lenders agreed to not promote the corporate’s shares until September 30, giving Essel time to discover a purchaser for a portion of Chandra’s stake. .

There have been issues after experiences that the order restraining Essel Group chairman Subhash Chandra from promoting his shares may influence the group’s future monetization plans in GEEL. Click on right here to learn full report

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