The company made the announcement after market hours on Tuesday, 16 April 2013.
Meanwhile, the S&P BSE Sensex was up 119.40 points or 0.64% at 18,864.33.
On BSE, 1.19 lakh shares were traded in the counter as against average daily volume of 3.99 lakh shares in the past one quarter.
The stock hit a high of Rs 206.50 and a low of Rs 200 so far during the day. The stock had hit a 52-week high of Rs 247 on 24 December 2012. The stock had hit a 52-week low of Rs 119.30 on10 May 2012.
The stock had underperformed the market over the past one month till 16 April 2013, sliding 7.85% compared with the Sensex's 3.51% fall. The scrip had also underperformed the market in past one quarter, declining 10.29% as against Sensex's 5.41% fall.
The large-cap media company has equity capital of Rs 95.67 crore. Face value per share is Re 1.
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Zee Entertainment Enterprises on Tuesday, 16 April 2013, said that in order to maximize returns on its treasury operations, the board of directors of the company has given an in-principle approval to invest in high-yield debt securities of real estate entities which are unrelated to the company or the Essel Group, with adequate security cover, up to a maximum of Rs 100 crore, of which Rs 29 crore has been committed as on date. Zee Entertainment Enterprises also clarified that the company has not sponsored any PE Fund and the company is not the Sponsor or Investor of India Asset Growth Fund -- an Alternative Investment Fund registered by Essel Group with the Securities and Exchange Board of India. The company issued this clarification after media reports said that the Essel Group has launched a Rs 1000 crore realty fund.
Zee Entertainment Enterprises' consolidated net profit rose 39.3% to Rs 194.11 crore on 26.3% growth in net sales to Rs 938.82 crore in Q3 December 2012 over Q3 December 2011.
Zee Entertainment Enterprises is one of India's leading television media and entertainment companies.
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