ZEEL shares were trading amid high volumes with over 3.62 crore changing hands on the NSE around 11:15 am. The stock which was under the F&O ban list till Tuesday is out of the ban now.
The ZEEL-Sony merger has been approved by the NCLT and is expected to provide a big boost for Zee shareholders, as all the objections regarding the deal have been rejected.
Investors drew comfort from the National Company Law Tribunals (NCLTs) approval to the proposed merger of the company with Sony Pictures. The merger deal was announced by the media major in 2021, but it has seen an unexpected delay due to Zees several legal battles with lenders and market regulator Sebi