Zee Entertainment shares up 7% as Punit Goenka resigns as MD
Goenka has been appointed as CEO to focus entirely on operational responsibilities; Mukund Galgali, CFO, will be deputy CEO.
Goenka has been appointed as CEO to focus entirely on operational responsibilities; Mukund Galgali, CFO, will be deputy CEO.
These FCCBs would be issued to Resonance Opportunities Fund, St. John's Wood Fund Ltd. and Ebisu Global Opportunities
The company experienced a 2.7% year-on-year (YoY) revenue growth, reaching ₹2,169 crore.
The proposed structure is aimed towards arriving at a cost-effective operational model, says ZEE.
A board-appointed committee advises that the identified business verticals will need to substantially reduce losses and enhance their performance levels.
Chandra family owns 3.99% stake in ZEE while domestic institutions and foreign institutional investors own 43.59% and 28.19% stake, respectively.
Sony’s termination of the deal with ZEE fuels downward rally; analysts say the scrip may fall to levels seen prior to merger announcement
Zee shares fall to an intra-day low of ₹259.10 before recovering losses and settling at ₹278.25, down 2.06% compared to the previous session
SEBI this month, in another order, had barred Goenka and Chandra from the boardrooms of four Zee group companies
On June 12, Zee promoters Chandra, Goenka were barred by SEBI from taking leadership roles at listed firm; regulator also sought "urgent action" against them