Why are DIIs holding such a high stake in Zee, which is beset with alleged governance issues? Perhaps they think Zee is a deep-value stock, observes Debashis Basu.
Last week, Sony Pictures Networks India (now called Culver Max Entertainment) ended its merger proposal with Zee Entertainment Enterprises Ltd (Zee) which was signed on 22 December 2021. The market had already got wind of it and so the stock started weakening from around Rs278 on Monday, 8th January.