Zee News Stock, Zee Entertainment ended up nearly 4% and addition of nearly 5 lakh shares in open interest, CNBC-TV18’s Varinder Bansal reports. Below is a verbatim transcript of his comments on CNBC-TV18. The circuit filters kept opened for Zee News today as it goes General Entertainment Channel business, reports CNBCTV18. Zee News has touched an intraday high of Rs 20.40 and an intraday low of Rs 14.60. At 09:12 hrs the share was quoting at Rs 19.90, down Rs 55.45, or 73.59%.
It has fixed April 16, 2010 as the record date for determination of members of the company who would become eligible for issuance of equity shares by Zee Entertainment Enterprises, as per data available on BSE website.
The volumes are better, the put call ratio (PCR) came down from 1.4 to 1.3 mark. Nifty futures again that 5400 remains important resistance level but you are seeing the put writing happening at 5200, call writing happening at 5400. The range has been between 5200 and 5400.We were trading at around discount of two to three points intraday and closed around 5 to 10 points when the final Bhav copy come it will be different. Nifty ended down nearly 22 points with a level of nearly 5340.
Zee Telefilms Ltd has informed BSE about the salient features of Scheme of Arrangement between the Company, Zee News Ltd, Siti Cable Network Ltd, Wire and Wireless (India) Ltd and their respective shareholders, for De-merger of News Business undertaking of the Company in favour of Zee News Ltd and Cable Business undertakings of the Company and Siti Cable Network Ltd, a wholly owned subsidiary of the company, in favour of Wire and Wireless (India) Ltd.
We were seeing quite an accumulation happening in Zee news in spot market and there were hedging which were taking place by shorting Zee entertainment shares. There were some players who reversed their trade today. Hence, you saw some buying happening in Zee Entertainment. The stock ended up nearly 4% and addition of nearly 5 lakh shares in OI.
It was the Sugar pack that made the come back today, whether it was Shree Renuka, Bajaj Hindusthan, Balrampur Chini all these stocks were looking good today. Shree Renuka one of the most bitten down stock was up nearly 3% today with a build up of nearly 16 lakh shares in open interest.
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