Zee-Sony merger: Tech charts suggest 35% upside for Zee Entertainment stock

On the higher side, the resistance comes in at Rs 400 and Rs 475 levels from a medium-term perspective

Sony Pictures Networks India Private Limited (SPNI) and Zee Entertainment Enterprises Ltd (ZEEL) on Wednesday announced that they have signed definitive agreements to merge ZEEL with and into SPNI and combine their linear networks, digital assets, production operations and program libraries. 

The agreements follow the conclusion of an exclusive negotiation period during which ZEEL and SPNI conducted mutual due diligence. After closing, the new combined company will be publicly listed in India. The closing of the transaction is subject to certain customary closing conditions, including regulatory, shareholder, and third party approvals. READ MORE HERE

Following the development, Zee