Shares of Zee Entertainment Enterprises Ltd (ZEEL) settled 8 per cent increased on Tuesday amid stories that media large Zee and Sony Pictures Networks (India) are working to salvage their USD 10 billion merger.

The scrip of the corporate surged 8.03 per cent to shut at Rs 193 apiece on the BSE. On the NSE, ZEEL inventory jumped 6.67 per cent to finish at Rs 190.40 per piece. During the day, shares of the leisure firm zoomed 15 per cent — hitting its higher circuit restrict — on the bourses.

In quantity phrases, 8.53 crore fairness shares have been traded on the NSE, whereas 60.04 lakh shares modified fingers on the BSE throughout the day.

The 30-share BSE Sensex benchmark surged by 349.24 factors or 0.48 per cent to finish at 73,057.40, whereas Nifty of the NSE rose by 74.70 factors to shut at a brand new report stage of twenty-two,196.95.

Zee Entertainment Enterprises is in search of rapprochement with Sony Group because it makes a final ditch effort to resurrect a USD 10 billion merger, trade sources informed PTI.

After the Japanese multinational had pulled the plug on their USD 10.5 billion merger deal in January, the Indian agency reached out once more to Sony to rethink the termination and provided for talks this month, a supply mentioned.

More than two years after saying their proposed merger, Sony on January 22 mentioned it had terminated the deal accusing ZEEL of not assembly closing circumstances even after extending their closing interval by a month.

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