Zee surges 15% as Invesco withdraws EGM notice for Punit Goenka's removal

In September 2021, Invesco had put out a requisition to the Zee Board of Directors to hold an EGM on the grounds that it felt the company was not running as smoothly as desired.

Shares of Zee Entertainment Enterprises (Zee) surged 15 per cent to Rs 294.45 on the BSE in Thursday’s trade at 09:30 am; after the company's largest shareholder, Invesco, decided to withdraw its EGM requisition notice, which sought removal of Managing Director and Chief Executive Officer (MD & CEO) Punit Goenka from the board of ZEE.

A combined 2.5 million equity shares changed hands at the counter and there were pending buy orders for 6.9 million shares on the NSE and BSE till the time of writing of this update. The stock trades in the futures & option (F&O) segment,