Zee Entertainment falls 6% after promoters sell shares

The stock slipped 6 per cent to Rs 403 on the BSE in intra-day trade after its promoter sold Rs 332 crore worth of the firm's shares in recent months, according to exchange disclosures.

Shares of Zee Entertainment Enterprises (ZEE) slipped 6 per cent to Rs 403 on the BSE in intra-day trade on the back of heavy volumes after its promoter sold Rs 332 crore worth of the firm’s shares in recent months, according to exchange disclosures.

Cyquator Media Services, the promoter entity of ZEE had sold shares worth Rs 227 crore between February 13 and March 29. Post the share sale, Cyquator’s shareholding has reduced to 22.8 per cent from 23.36 per cent.

Meanwhile, Essel Corporate has sold Rs 105 crore worth of shares between March 13 and March 25,