The shares of one of the leading Entertainment Enterprises in India engaged in broadcasting, film studios, and many more in the spotlight after Societe Generale sold equity shares of the company aggregating to Rs. 203 Crores.
At 1:57 p.m the shares of Zee Entertainment Enterprises Limited were trading at Rs. 261.40, up 2 percent from its previous day’s close price of Rs. 256.30 and its market capitalization is Rs. 25,200 Crores.
As per the large deals data available on NSE, On January 9, 2024, Societe Generale sold 83,45,179 equity shares of the company at an average price of Rs. 259.10 aggregating to Rs. 216.22 Crores.
Following the heavy selling, Societe Generale made another trade by buying 5,08,435 equity shares of the company at an average price of Rs. 256.64 aggregating to Rs. 13.04 Crores.
Concluding the two large deals there has been a net sale of 78,36,744 equity shares of the company aggregating to Rs. 203.18 Crores.
Zee Entertainment Enterprises Limited is engaged in the business of broadcasting Satellite Television Channels, a space-selling agent for other satellite television channels, and the Sale of Media Content i.e. programs, film rights, feeds, music rights, and many more.
In September 2021, Zee Entertainment Enterprises Limited and Sony Group agreed to merge their linear networks, digital assets, production operations, and program libraries.
Upon successful merger the new entity would possess more than 70 TV channels, two video streaming services, and two film studios, establishing itself as the biggest entertainment network in India.
The company’s revenue from operations declined 1.19 percent from Rs. 8,185.7 Crores in FY22 to Rs. 8,087.9 Crores in FY23, accompanied by profits of Rs. 964.6 Crores to Rs. 47.8 Crores.
According to the latest shareholding data available for the quarter ended September 2023, the company’s Promoters hold a 3.99 percent stake, the Foreign Institutional Investors (FII) hold 35 percent and the Domestic Institutional Investors hold 42.22 percent.
Written by: Bharath K.S
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