The National Stock Exchange (NSE) withdrew the statement made, on the 23rd of February 2023, through a circular wherein the F&O contracts for the company were excluded from its operations. The withdrawal comes into play because of the interim relief provided by the National Company Law Appellate Tribunal (NCLAT).
Moreover, the company, as of today, i.e., 28th of February 2023, is given a green signal to let the investors get involved in the futures and options contracts with May 2023 expiry, which is in addition to the March 2023 and April 2023 expiry.
As a matter of the above facts, the market has reacted positively and the share has been able to witness a rally today of around 6%, closing at Rs 182.95 a day prior and currently trading at Rs 194.00.
Zee Entertainment Enterprises is a media and entertainment company involved in the business of providing broadcasting services. Spread across 173 countries, the company operates through its content and broadcasting segment. With over a billion viewer base, the company is able to broadcast its content over 49 domestic channels.
The company has been in a good position with its ability to showcase a positive scale of figures with respect to its consolidated revenues generated and net profits earned.
Revenues grew from 2,028 crores for the quarter ending September 2022 to 2,111 crores in the previous quarter ending December 2022. Talking about the net profits, the company has faced a slack of around 90 crores on a sequential basis from 112 crores for Q2 as compared to 24 crores in Q3.
Written by Amit Madnani
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