New Delhi, Dec. 26 -- Shares of Zee Media Corporation gained nearly 2% on Friday, December 26, as a Mumbai-based institutional investor, AUV Innovations LLP - which also belongs to the promoter group - acquired shares of the company via the open market.

This likely ignited investor interest in the Zee group stock as DII or promoter buying is often seen as a vote of confidence in the company, attracting other investors.

According to an exchange filing, dated December 24, AUV Innovations picked up a 2.42% stake or 1,51,15,614 shares in Zee Media Corporation.

As a result, its stake in the media company rose from 6.99% to 9.41%. Prior to the stake purchase, AUV Innovations owned 4,37,18,761 shares of the company, which rose 5,88,34,375 fol...