Zee Entertainment Stock Rebounds After Sony Merger Deal Cancellation

New Delhi, Jan 24 (PTI) Shares of Zee Entertainment Enterprises Ltd (ZEEL) jumped nearly 7 per cent on Wednesday, a day after falling steeply on Sony calling off the proposed merger deal with the media group.

The company's scrip gained 6.70 per cent to close at Rs 166.35 apiece on the BSE.

On the NSE, ZEEL's shares advanced 6.28 per cent to settle at Rs 165.75 per piece.

In terms of volume, 63.75 lakh equity shares of the company were traded on the BSE, while 14.64 crore shares were traded on the NSE, during the day.


In the broader equity markets, the 30-share BSE Sensex zoomed 689.76 points or 0.98 per cent to settle at 71,060.31, while NSE Nifty gained 1.01 per cent to end at 21,453.95.

On Tuesday, ZEEL's stock nosedived up to 33 per cent after Sony called off the proposed USD 10 billion merger of its India unit with the media group.

The market capitalisation of the company also tumbled by Rs 7,285.53 crore to Rs 14,974.50 crore, in the previous session on the BSE.