Zee Entertainment zooms 14% in 4 days on hopes of settlement with lenders

Zee had said that the company had been exploring several strategies, including settlement, in relation to the ongoing dispute with IndusInd Bank

Shares Zee Entertainment Enterprises (ZEE) rose 4 per cent to Rs 214.70 on the BSE in Tuesday’s intra-day trade on hopes of settlement with lenders.

The stock of the TV broadcasting & software production company was trading higher for the fourth straight day, surging 14 per cent during the period. According to media reports dated March 16, the company has agreed to pay dues to IndusInd Bank. Besides, the lender has likely agreed to withdraw the insolvency case.

"ZEEL has agreed to repay dues owed to IndusInd Bank as the company seeks to resolve insolvency proceedings initiated against