Bengaluru, July 11 -- A major media and entertainment conglomerate known for its television channels and content production faces significant news. Shareholders have decisively rejected a critical proposal, effectively blocking the promoter family's plan to substantially increase their stake in the company. This unexpected rejection triggered an immediate sharp decline in the company's stock price.

Zee Entertainment Enterprises Limited's stock, with a market capitalisation of Rs. 13,270 crores, fell to Rs. 133.10, hitting a low of up to 6.2 percent from its previous closing price of Rs. 141.90. Furthermore, the stock over the past year has given a negative return of 6 percent.

Voting Outcome The company failed to secure enough votes to ...