Television

Zeel shares see demand following RBI approval for FII investment

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2014/06/03/zeel.jpg?itok=s2xqVEVP

MUMBAI: Interest in the Zee Entertainment Enterprises Limited (Zeel) appears to be rising. The stock witnessed a 52 week high of Rs 301.90 on 21 May 2014 and has been trading in the Rs 270 plus range today, rising Rs 7 plus in today's trading.

Not only did the company announce healthy results and a 200 per cent dividend on 21 May 2014, it has also got approval from the Reserve Bank of India (RBI)  for Foreign Institutional Investors (FIIs) to invest up to 100 per cent in the company under the portfolio investment scheme on 2 June 2014. The investment limit has been revised from the earlier 49 per cent ceiling. The announcement was made by Zeel through a statement issued to the BSE on yesterday. 

“The said communication is based on the proposal approved by the Board of Directors of the Company on 22 May 2013 and by the shareholders by passing a special resolution at the Annual General Meeting held on 25 July 2013,” stated the release on BSE.

The Reserve Bank, through a press statement said, “The Company has passed resolutions at its Board of Directors’ level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs. The purchases could be made through primary market and through stock exchanges and would be subject to Regulation 5(2) of FEMA Notification No.20/2000 RB dated 3 May 2000 (as amended from time to time) and other terms and conditions stipulated by the Reserve Bank.”

The approval has been given subject to the condition that “the onus of compliance with FDI policy and FEMA regulations including downstream investment would continue to remain on the Indian company, Zeel,” said the RBI in its statement.

The Reserve Bank has notified this under FEMA 1999.

FIIs so far held 48 per cent stake in the company while the promoter and the promoter group's shareholding was 43 per cent as of March 2013.



 

Zee Entertainment's channel portfolio comprises: Zee TV, Zee Cinema, Zee Music, Zee Premiere, ETC, ETC Punjabi, TEN Sports, Zee Studio, Zee Classic and Zee Sports.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/28/barck%20%281%29.jpg?itok=eWIvgkHj
BARC India formally sets up independent council to probe viewership malpractices complaints

BARC India has set up an independent disciplinary council to further strengthen transparency and credibility of its measurement system.

Television TV Channels Viewership
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/28/Jim-Gianopulos.jpg?itok=N-QHfz2Z
Viacom names Gianopulos CEO of Paramount Pictures

MUMBAI: Viacom Inc. has announced the appointment of Jim Gianopulos as the chairman and chief executive officer of Paramount Pictures, effective 3 April, 2017. Gianopulos will report directly to Viacom president and CEO Bob Bakish.

Television TV Channels People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/28/indo-vietnam.jpg?itok=rQDtgDJx
India, Vietnam agree on greater collaboration between pubcasters

NEW DELHI: Information and Broadcasting Minister M Venkaiah Naidu has said India would extend all possible support to promote exchange programmes between public broadcasters of the India and Vietnam in content creation, screening and distribution of films. During a meeting with a Vietnamese...

Television TV Channels Terrestrial
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/28/DD-Kashir-V-naidu.jpg?itok=amiTS5gh
DD Kashir packaging agency tenders floated

NEW DELHI: Doordarshan has floated a tender for selecting an agency for channel packaging work for DD Kashir. The Description of task, e-tender submission format and procedure is provided in the Bid document available on the DD website and two e-tendering websites. The pre-bid meeting in this...

Television TV Channels Terrestrial
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/28/Times-Now-800x800.jpg?itok=Ckdthpen
Times Now will be globally 'regional', HD by next quarter

MUMBAI: Success does not end at leadership, it begins! With an aim to create value and make a difference, he is a man on a mission. He quit News X in November 2016 to fill the the big shoes of Arnab Goswami. Known to be an insightful, incisive journalist, Rahul Shivshankar joined Times Now on 15...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/27/sa%20%281%29.jpg?itok=eot4hbiq
Holi, elections rake in ratings for channels in week 11 of 2017

BENGALURU: Programmes during the Indian festival of colours and assembly elections results counting in five states of the country were television eyeball grabbers for a number of channels as per data released by Broadcast Audience Research Council of India (BARC) for week 11 of 2017 (Saturday, 11...

Television TV Channels Viewership
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/27/hardtaik%20%281%29.jpg?itok=iXIdRhYu
BBC HARDtalking anniversary interview with Sir Ian McKellen

BBC World News’ legendary interview show HARDtalk will be marking 20 years of asking the questions that matter with a raft of dedicated content.

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/27/punit-goenka%20%281%29.jpg?itok=9SbmVluE
Zee Entertainment certified 'Great Place to Work'

Leading Indian content company, Zee Entertainment Enterprises Limited (ZEEL), today announced that it has achieved the certification as a Great Place to Work® by the Great Place to Work® Institute, India. The Great Place to Work framework assesses an organization on employee perception through...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/27/GRB.jpg?itok=_RkATcem
GRB brings crime, paranormal programmes to Eastern Europe

MUMBAI: GRB Entertainment has sold a slate of unscripted programmes in Eastern Europe spanning genres including real-life crime, natural disaster and paranormal. Hungary’s Origo Media Group picked up 3 seasons and specials of the long-running, real-life hospital drama series, Untold Stories of the...

Television TV Channels English Entertainment

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories