Demerged Zee Telefilms starts trading on a strong note

MUMBAI: Subhash Chandra couldn't have hoped for a better start to the first day's trading of Zee Telefilm's demerged entity. Zee Entertainment Ltd, which also temporarily houses the direct-to-home (DTH) business, opened on Monday at Rs 249 on the BSE, touched a high of Rs 297.80, before closing the day at Rs 272.20 with 3.45 million shares changing hands at the counter.

On the NSE, the scrip opened at Rs 275 and closed marginally lower at Rs 273. "This was more or less in line with the market expectations. Though the scrip fell 20 per cent from the previous close of Rs 341, this was the first day's trading of the demerged entity. The stock witnessed heavy trading," a market analyst said.

Zee's other two demerged entities - Wire & Wireless India Ltd. (WWIL) and Zee News Ltd. (ZNL) - would get listed independently, after relevant approvals from the stock exchanges. Listing is likely in January 2007.
The process of getting approval of Zee's DTH business under Dish TV is underway. A separate record date for the demerger of Dish TV will be announced. Till then, Zee Entertainment Ltd will include Dish TV while trading on the stock exchanges.

"The value of both the companies is embedded in the current scrip price. Investors, after all, will get shares in Dish TV when it is demerged," said an analyst in a stock broking firm.

After Dish TV gets listed, Zee Entertainment Ltd could see a drop in price. "But the sum of parts will be higher than the current level. We see it somewhere in the Rs 320-330 range," the analyst said.

Zee TV's ratings are also going up and as the second largest general entertainment channel, it will be able to exploit advertising revenues which should get more properly reflected in the next fiscal, the analyst added.

Latest Reads
Watch Rani Mukerji’s ‘Dadasaheb Phalke Excellence Award’ winning performance in ‘Hichki’ only on Sony MAX

After garnering success at the box office and a heart-warming response from the audience, the Rani Mukerji starrer ‘Hichki’ is all set for its Worldwide Television Premiere only on Sony Pictures Networks’ number 1 Hindi movie channel, Sony MAX on Saturday, 26th March at 9pm. Directed by Siddharth...

Television TV Channels Movie Channels
World Television Premiere of Raid on Star Gold

This May, Star Gold to bring the World Television Premiere of Raid. Touted as first Bollywood project to be based on an Income Tax raid, this Ajay Devgn starrer hit will be showcased on 27th May 2018, Sunday at 1 PM on Star Gold.

Television TV Channels Movie Channels
Travelxp explores Nagaland this month; Strictly Street, Krazee Foodie return for second seasons

Travelxp, the world’s leading travel channel, continues to excite its viewers with its popular show ‘Xplore Nagaland’ and new seasons of ‘Strictly Street’ and ‘Krazee Foodie’ as it continues to bring an experience of new places, diverse cultures and exotic cuisine straight to viewers’ living rooms...

Television TV Channels Factual & Documentary
BBC StoryWorks expands into India

BBC StoryWorks, the global content marketing team within BBC Global News Ltd, has expanded into India with staff now based in the country for the first time as part of wider growth across the Asia Pacific region.

Television TV Channels Factual & Documentary
Firstpost turns 7: a look back at the milestones

MUMBAI: India’s leading digital news platform known for its path breaking content and remarkable journalism, celebrates 7 years in the industry. The platform was launched in 2011 by Network18 as an exclusive online news and views website and app accessible across platforms and...

Television TV Channels News Broadcasting
Star to telecast IPL finale on 17 channels, adds Marathi Malayalam feeds

On the evening of 27 May, Star India wants to ensure you see nothing but IPL on your TV screens, no matter where you are or what language you speak. It has roped in Star Pravah and Asianet movies to add two new language feeds for better reach of the IPL 2018 in Marathi and Malayalam respectively.

Television TV Channels Sports
Sunil Lulla joins Balaji Telefilms as group CEO

MUMBAI: Indian production company Balaji Telefilms has appointed Sunil Lulla as its new group chief executive officer. His new role will be effective from 25 May 2018. He will replace Sameer Nair who quit the company to join Applause Entertainment.

Television TV Channels People
Nielsen on changing landscape of global sports

MUMBAI: The global sports industry is undergoing more disruption than ever as a result of ongoing shifts in media consumption, the emergence of new technologies and a rapidly evolving sponsorship market.

Television TV Channels Sports
ITW Consulting appoints Navneet Sharma as president, international strategy, sales & IP development

ITW Consulting, a global sports commerce specialising in crafting and executing multi-faceted brand management solutions across sports, entertainment and media, has appointed Navneet Sharma as president international strategy sales and IP development w.e.f. from May 2018.

Television TV Channels Sports

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories