Zee Entertainment up 8%, stock rallies 52% from January 25 low

The stock moved higher by 8% to Rs 440, rallying 52 per cent from its recent low of Rs 289 touched on January 25, 2019, in intra-day trade on the BSE.

Shares of Zee Entertainment Enterprises (ZEEL) rose 8 per cent to Rs 440 apiece, rallying 52 per cent from their January's low on the BSE.

On January 25, 2019, the stock of Essel Group Company tanked 33 per cent to Rs 289 in intra-day trade after a report in The Wire suggested a link between Essel Group, the promoter of ZEEL, and Nityank Infrapower, a firm being investigated for suspicious deposits after demonetisation.

ZEEL however, had clarified, through a notice to the BSE, that it has no connection whatsoever with any alleged transaction(s) of Nityank Infrapower, as reported