Today Zee Entertainment Enterprises share price was trading above 17% at Rs 299.90. In September 2021, Invesco had asked the board of Zee to hold an Extraordinary General Meeting (EGM) as the company was not running smoothly, according to Invesco.
Invesco wanted to remove 3 directors from Zee’s board, including Punit Goenka, CEO of Zee.
However, Zee’s board did not respond to this request, after which Invesco approached the NCLT (national company law tribunal). In response to this, Zee approached the High Court.
After this, in December 2021, Zee announced the merger with Sony. Invesco wanted to hold an extraordinary general meeting (EGM) to add 6 new independent directors to the board of Zee.
But yesterday Invesco said that they will not hold this EGM because after Zee and Sony merger the board of the newly combined company will be reconstituted so that their objective of strengthening the board will be achieved.
Due to this, there was a sharp jump in the share price of Zee today.
Zee Entertainment Enterprises share: Financials
| 52 Week High | 378.70 |
| 52 Week Low | 166.80 |
| Sector PE | 28.62 |
| Face Value | 1 |
| Dividend Yield | 0.84 |
| Mkt Cap (Rs. Cr.) | 28,709 |
| Book Value Per Share | 105.23 |
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| Net Profit 2021 (Rs. Cr.) | 793 |
| Debt to equity (2021) | 0.00 |
| Revenue 2021 (Rs. Cr.) | 7,729 |
| EPS | 8.33 |
| ROE | 7.92 |
| Dividend/Share (INR) (Mar 2021) | 2.50 |
| Promoters holding | 3.99% |
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This article is only for education purpose and the author has his own views and research, so if you invest in these stocks/forex/Virtual Digital Asset then do it at your own risk and do the research yourself before investing.
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