 "ZEE Entertainment, ZEE, TV")
The management of Zee Entertainment on Friday met creditors to reassure them that the stake sale plan was on track and that a buyer had been shortlisted, according to people in the know.
On Friday, shares of the company slipped more than 9 per cent intra-day trade, following its July-September (Q2) results. The company’s profit before tax declined 22 per cent year on year (YoY) to Rs 504 crore. Writing-off of an inter-corporate deposit of Rs 170 crore weighed on the company’s results.
According to analysts, clarity on the stake sale will be the key driver for the stock, while earnings would
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