WWIL, Zee News begin trading; price range as per market expectations

MUMBAI: The debut performance of Wire & Wireless India Ltd (WWIL) and Zee News Ltd (ZNL), Zee Group's demerged entities, on the boursess was along market expectation lines.

Though WWIL, the cable distribution company, opened at the BSE much lower at Rs 80, it inched up to touch a high of Rs 139.80 before closing the day at Rs 120.80. Putting their faith on digitalisation, analysts had predicted the scrip to trade in the region of Rs 120-140.

ZNL, on the other hand, opened higher at Rs 50 even as the market had expected it to be valued at Rs 35. The scrip touched a high of Rs 58.85 before tapering off to a low of Rs 33.65 and closing Wednesday's trading at Rs 34.40.

Speaking to a business channel, Zee Group chairman Subhash Chandra said WWIL would touch a revenue of Rs 10 billion in 12 months but the company would still not be profitable as it is in an investment mode. The multi-system operator (MSO) has already seeded 155000 set-top boxes (STBs) in the Cas (conditional access system) areas, enjoying a 50 per cent market share.

ZNL should end the current fiscal with a revenue of Rs 1.8-2 billion and the target in five years is to have a turnover of around Rs 10 billion, Chandra said. The company is planning to launch a Marathi news channel this month.

Meanwhile, another media and entertainment company listed on the bourses today. Shree Ashtavinayak Cine Vision closed at a premium of Rs 228, or 42 per cent higher from its IPO price.

Latest Reads
A'Colors'ful decade

It seems just like yesterday. How oft we have heard that phrase being spoken. So much so that it appears banal. However, in the case of Colors – the general entertainment channel from the now Reliance Industries majority-owned Viacom18 – it is so apt. 10 years have gone by since it started.

Television TV Channels GECs
ZMCL reports almost fivefold profit for Q1; DNA loss lower

The Essel group’s television news broadcasting arm Zee Media Corporation Ltd (ZMCL) reported a 386.3 per cent growth (almost five fold) in consolidated profit after tax (PAT) for the period ended 30 June 2018 (Q1 2019, quarter or period under review) as compared (year-on-year comparison, y-o-y) to...

Television TV Channels News Broadcasting
“We focus on digital to promote non-film music” - Vinit Thakkar

EMI Records India recently launched its own unique platform VYRL Originals which completed six months on 12 July. Every month, a single was released with the latest being Aaya Na Tu by Arjun Kanungo and Momina Mustehsan. EMI Records India was launched in May 2015 by Universal Music Group in...

Television TV Channels Music and Youth
Star Bharat experiments with early morning slot

Star Bharat is all set to experiment with weekend morning slot by launching a three-hour programming band from 5 August.

Television TV Channels GECs
National Geographic’s new show to tell success stories of India’s icons

National Geographic will be coming up with a unique show called Mega Icons which will see the success stories of inspiring personalities of India from different platforms.

Television TV Channels Factual & Documentary
Viacom signs deal with for small screen content

Kids’ entertainment platform has raised $15 million in a funding round led by Viacom. Under their agreement.

Television TV Channels Kids
STAR Maa announces call for entries for a brand new reality show PelliChoopulu

In continuation to give its viewers a unique and entertaining show, Star Maa the most viewed Telugu entertainment channel has announced the call for entry for its upcoming reality show PelliChoopulu.

Television TV Channels Regional
Zee Telugu announces auditions for all new season of its legendary dance reality show, Aata Juniors

Aata Juniors, one of Zee Telugu’s most sought-after reality shows is soon making a comeback to the channel and is looking for the final contestants via auditions.

Television TV Channels Regional
Sony Max pushes its way to most watched Hindi channel across genres

Sony Pictures Network India (SPN) Hindi movies channel Sony Max was ranked second in Broadcast Audience Research Council of India (BARC) weekly list of top 10 channels across genres (across genres list) for week 28 of 2018 (Saturday, 7 July 2018 to Friday, 13 July 2018, week or period under review...

Television TV Channels Viewership

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories