Why Zee Entertainment shares fell 5% intraday
Shares of Zee Entertainment fell as much as 4.83 per cent to hit an intraday low of Rs 201.95 after Delhi High Court rejected the company s plea seeking stay on IndusInd Bank s demand of Rs 83 crore
BusinessToday.In | December 22, 2020 | Updated 15:36 IST
Delhi High Court has allowed IndusInd Bank to raise demand of Rs 83 crore against Zee for Siti Networks default
Zee Entertainment share price declined nearly 5 per cent in intraday trade on Tuesday after Delhi High Court rejected the company s plea seeking stay on IndusInd Bank s demand of Rs 83 crore. The Subhash Chandra-led company stock has declined 30 per cent over the last one year as against 8.5 per cent gain in NSE Nifty and nearly 14 per cent drop in the Nifty Media index.
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Equity benchmarks Sensex and Nifty have been moving up for the last few days. On Wednesday, they raced to new peaks. The BSE Sensex ended 403.29 points higher to reach 46,666.46. On the other hand, NSE Nifty settled 114.85 points up to close at 13,682.70. Firms like HDFC, ONGC, Bharti Airtel, Titan, Asian Paints, Mahindra and Mahindra and TCS were among gainers, while the prominent laggards for the day were ICICI Bank, IndusInd Bank, NTPC, UltraTech Cement, Tech Mahindra and SBI.
Here are stocks which are expected to be in focus on Thursday, December 17:
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The short term trend of Nifty is positive and one may expect further upmoves in the coming sessions, says Nagaraj Shetti of HDFC Securities. Sunil Shankar Matkar December 17, 2020 / 08:50 AM IST
The market after its four-day consolidation gained strength to climb new life high on December 16, following positive global cues amid US stimulus hopes.
The BSE Sensex jumped 403.29 points to 46,666.46, backed by almost all sectors barring banks, while the Nifty50 rallied 114.80 points to 13,682.70 and formed a small-bodied bullish candle on the daily charts. A small positive candle was formed with long lower shadow. Nifty closed above the last four sessions upper range of 11,590 levels. Technically, this pattern indicates an upside breakout of the small range at 13,600, Nagaraj Shetti, Technical Research Analyst at HDFC Securities, told Moneycontrol.
The market is currently valued at $11.61 billion.
15 Dec, 2020 - 04:36 PM IST | By indiantelevision.com Team
NEW DELHI: 2020 was packed with unforeseen highs and lows for the Indian broadcasting and cable TV sector. From record viewership, to plummeting ad revenues, to the NTO 2.0 wrangle, the industry is still in a rather precarious position. Despite these challenges, the broadcast and cable TV market, currently valued at $11.61 billion, is expected to reach $19.06 billion by FY2026, states a report by TechSci Research.
The India Broadcasting and Cable TV Market report holds favourable regulations, technological advancements and growing investment opportunities as key factors driving this growth. The increasing demand for TV sets, especially in rural India, is also further boosting the market. Moreover, the expansion of the entertainment industry with greater demand for international TV channels and shows will propel the growth of this sector through FY