Shares of Zee Entertainment Enterprises lost nearly 5 percent in intraday trading on Tuesday following a report by Mint indicating that Sony Pictures is unlikely to extend the timeline for the $10 billion merger of its India Business with Zee.
The daily trend of Zee Entertainment Enterprises is bullish to sideways. The RSI for monthly and daily is showing sideways momentum, however, the RSI for weekly is showing bullish momentum. Based on option chain analysis, the range is between 250 and 290. Let’s plan a trade around this.
Shares of Zee Entertainment Enterprises (ZEE) dipped 15 per cent to Rs 212 on the BSE in the intra-day trade on Friday on profit booking as investors worried about shrinking operating profit margin. The stock has slipped 19 per cent from its 52-week high level of Rs 216 touched on Thursday, February 4. "The incremental investments in a new channel, the Digital business, and the Movie business would lead to margin dilution, and the earlier guidance for a 30 per cent Ebitda (earnings before interest, taxes, depreciation, and amortisation) margin would be difficult to achieve," analysts at Motilal Oswal Financial Services said in December quarter (Q3FY21) results update.