Zee Entertainment slumps 13% to hit over 6-year low
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Mumbai, Oct. 7 -- Shares of Zee Entertainment Enterprises Ltd slumped over 13% on Monday to hit an over six-year low after the company said that more than 90% of promoters stake was pledged with financial institutions.
So far today, the stock has touched a low of Rs.205 - a level last seen on 18 April, 2013. At 9.50 am, the scrip traded at Rs.215 on BSE, down 9.2% from its previous close. So far this year, shares have declined over 56%.
In a investor call on Saturday, managing director and chief executive officer Punit Goenka said that of the 22% current promoter shareholding in the company, 90% was pledged with financial institutions. Also, the number of pledged shares have increased compared to the data as on June 30, when it stood at...
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