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21-Jul2017

Zee Media gains on the buzz to buy Business Broadcast News

 Zee Media Corporation is currently trading at Rs. 38.70, up by 0.70 points or 1.84% from its previous closing of Rs. 38.00 on the BSE.

The scrip opened at Rs. 38.40 and has touched a high and low of Rs. 39.15 and Rs. 38.30 respectively. So far 102932 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 42.40 on 13-Jun-2017 and a 52 week low of Rs. 22.50 on 11-Aug-2016.

Last one week high and low of the scrip stood at Rs. 39.15 and Rs. 37.20 respectively. The current market cap of the company is Rs. 1814.89 crore.

The promoters holding in the company stood at 69.11%, while Institutions and Non-Institutions held 6.19% and 24.70% respectively.

Zee Media Corporation is reportedly in advanced discussions to acquire Business Broadcast News, an Anil Ambani-owned company that operates English business news channel BTVi. The company could pay between Rs 80 crore and Rs 100 crore. A deal is imminent and the matter will come up for approval before Zee Media's board at its meeting scheduled for next week.

Zee Media Corporation, formerly known as Zee News, broadcasts 10 news channels including two national ones - Zee News and Zee Business.


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