Zee Entertainment shares: After the decline of the first day of the week, the stock market closed with a sharp rise today. The Sensex registered a gain of 69 points, while the Nifty registered a gain of 25 points. The Sensex closed at the level of 58247, while the Nifty all-time high closed at a record high of 17380. During trading, it had reached the highest level of 17438. IT, Kotak Mahindra Bank and Midcap shares were the major contributors to today’s rally. ZEEL shares rose 40 percent.
Today the shares of Zee Entertainment Enterprises Limited (ZEEL) registered a huge gain of 40 percent, which is the biggest rise in its history. Today the shares of ZEEL registered a gain of about Rs 75 and it closed at Rs 261.70 with a gain of 40 per cent. This is its new 52-week high. The rise in Zeel’s shares is because three directors of the company have been shown the way out. It also stars CEO Puneet Goenka.
Big news about corporate governance clears the way
The shares of ZEEL have been witnessing a steady rise for the last three trading sessions. After today’s boom, the biggest question is what investors should do. Stock market experts say that the fundamentals of this stock are looking strong. For the past few years, this stock was showing constant pressure. The biggest reason for this was the governance factor. The business outlook for this company is looking good after the improvement in corporate governance. ZEE5 has a presence on the OTT platform and there are many possibilities for this.
Appointment of 6 new independent directors
The company’s two biggest investors Invesco Developing Market Fund and OFI Global China Fund LLC have decided to remove Goenka from the board. It has been decided to remove three people from the board of the company, while both these stakeholders have announced the appointment of 6 new independent directors.
How far can this stock go in the coming days?
Market experts said that the stock of ZEEL can go up to the level of Rs 300-350, but it should wait for some correction. Santosh Meena of Swastik Investment says that this stock had a barrier at 260 which it has crossed. In such a situation, it is expected to go up to 350. At the bottom there is a strong support at the level of 205 and it is also an important level. The stock had reached an all-time high of 619 in February 2018. During the Corona period, in March 2020, this stock had fallen to the level of Rs 114.
BSE market cap crosses Rs 257 lakh crore
Here today the shares of IndusInd Bank, HCL Technology, Kotak Mahindra Bank, Bajaj Auto and Tech Mahindra are the top gainers. HDFC, Nestle India, UltraTech Cement and Hindustan Unilever were the top losers. Today out of 30, 17 shares closed in green mark and 13 shares closed in red mark. The market cap of BSE listed companies closed at 257.54 lakh crore today.
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