Zee Entertainment recovers from intraday lows but ends in the red; Read here

Zee Entertainment recovers from intraday lows but ends in the red; Read here {"selector":".custom-animation","duration":"4s","easing":"ease-in","keyframes":[{"transform":"translateY(10px)","opacity":1},{"transform":"translateY(5px)","opacity":0.7},{"transform":"translateX(0)"}]}

Zee Entertainment Enterprises Ltd. stock ended 0.3% lower on Friday after a 4% decline in the morning session. {"selector":".custom-animation","duration":"4s","easing":"ease-in","keyframes":[{"transform":"translateY(10px)","opacity":1},{"transform":"translateY(5px)","opacity":0.7},{"transform":"translateX(0)"}]}

The decline was attributed to a media report by Bloomberg which stated that ZEEL would repay IndusInd Bank dollar 10 million to close the deal with Sony. {"selector":".custom-animation","duration":"4s","easing":"ease-in","keyframes":[{"transform":"translateY(10px)","opacity":1},{"transform":"translateY(5px)","opacity":0.7},{"transform":"translateX(0)"}]}

In February, IndusInd Bank sought to begin insolvency proceedings against ZEEL, which threatened the merger. {"selector":".custom-animation","duration":"4s","easing":"ease-in","keyframes":[{"transform":"translateY(10px)","opacity":1},{"transform":"translateY(5px)","opacity":0.7},{"transform":"translateX(0)"}]}

The National Company Law Appellate Tribunal offered interim relief by choosing to stay the proceedings. {"selector":".custom-animation","duration":"4s","easing":"ease-in","keyframes":[{"transform":"translateY(10px)","opacity":1},{"transform":"translateY(5px)","opacity":0.7},{"transform":"translateX(0)"}]}

Bloomberg reported that ZEEL had agreed to pay back debts owed to IndusInd Bank in order to end insolvency proceedings and complete the merger with Sony. {"selector":".custom-animation","duration":"4s","easing":"ease-in","keyframes":[{"transform":"translateY(10px)","opacity":1},{"transform":"translateY(5px)","opacity":0.7},{"transform":"translateX(0)"}]}

Following the news report, shares rose 9.3% on Thursday. {"selector":".custom-animation","duration":"4s","easing":"ease-in","keyframes":[{"transform":"translateY(10px)","opacity":1},{"transform":"translateY(5px)","opacity":0.7},{"transform":"translateX(0)"}]}

Friday's trading session saw an intraday low of rupees 198.20 and high of rupees 209.15. {"selector":".custom-animation","duration":"4s","easing":"ease-in","keyframes":[{"transform":"translateY(10px)","opacity":1},{"transform":"translateY(5px)","opacity":0.7},{"transform":"translateX(0)"}]}

The stock has fallen 33.25% from its 52-week high of rupees 308.7 on April 4, 2022. {"selector":".custom-animation","duration":"4s","easing":"ease-in","keyframes":[{"transform":"translateY(10px)","opacity":1},{"transform":"translateY(5px)","opacity":0.7},{"transform":"translateX(0)"}]}

According to a MintGenie poll, 22 analysts on an average recommend 'strong buy' for the stock. {"selector":".custom-animation","duration":"4s","easing":"ease-in","keyframes":[{"transform":"translateY(10px)","opacity":1},{"transform":"translateY(5px)","opacity":0.7},{"transform":"translateX(0)"}]}

Click here to know more about the stock. Check here for more market-related stories. {"selector":".custom-animation","duration":"4s","easing":"ease-in","keyframes":[{"transform":"translateY(10px)","opacity":1},{"transform":"translateY(5px)","opacity":0.7},{"transform":"translateX(0)"}]}