On Friday, the shares of India’s second-largest media and leisure agency rose by 2.5 % to Rs 277.55 per share, a day after the Foreign Institutional Investor bought a stake within the firm. 

At 11:26 a.m., Zee Entertainment Enterprises Ltd shares had been buying and selling at Rs 273.80 on the National Stock Exchange, up 1.01 % from the earlier shut worth. The firm has a market capitalization of Rs 26,318 crore on the inventory alternate. 

According to NSE offers, Foreign Institutional Investor Plutus Wealth Management LLP, purchased 61,10,797 fairness shares as much as 0.63 % stake within the Zee Entertainment Enterprises through open market transactions at a median worth of Rs 270.07 per share, for value Rs 165.03 crore. 

The firm’s income has elevated by 20 % 12 months on 12 months, from Rs 2,024 crore in Q2FY23 to Rs 2,438 crore in Q2FY24. During the identical 12 months, the corporate’s web revenue rose by 9 %, from Rs 113 crore to Rs 123 crore. 

Zee Entertainment Enterprises shares have gained 54 % within the final six months and 14 % in a 12 months. 

Zee Entertainment Enterprises is primarily within the companies of Broadcasting Satellite Television Channels, Space Selling brokers for different satellite tv for pc tv channels, and Sale of Media Content i.e. packages/movie rights/feeds/music rights. 

In FY23, the corporate obtained 50 % of its income from Advertising, adopted by 41 % income from subscriptions. However, the corporate has witnessed an 8% YoY decline in promoting income, this was largely offset by a 3% and 28% YoY enhance in subscription and different gross sales and providers, 

As of the current shareholding sample, the corporate promoter holds a 3.99 % stake within the firm, whereas Foreign Institutional Investors maintain a 35 % stake and Domestic Institutional Investors maintain a 42.22 % stake. 

Zee’s is India’s second TV Entertainment Network, with a market share of 16.8% in FY 2022-23. Since FY 2018-19, the corporate has launched seven new channels, six of that are in different language markets. 

Zee Entertainment Enterprises is without doubt one of the largest international media and leisure corporations on this planet. With a presence in over 190 nations and a attain of greater than 1.3 billion shoppers all over the world by means of linear and digital platforms.

Written by Omkar Chitnis

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