Zee Media Corporation fell 2.88% to Rs 16.85 at 14:21 IST on BSE after the company said its board will meet on 20 October 2014 to consider rights issue.
Meanwhile, the BSE Sensex was down 59.22 points, or 0.22%, to 26,290.11.
On BSE, so far 1.93 lakh shares were traded in the counter, compared with an average volume of 3.28 lakh shares in the past one quarter.
The stock hit a high of Rs 17.60 and a low of Rs 16.70 so far during the day. The stock hit a 52-week high of Rs 23.35 on 10 June 2014. The stock hit a 52-week low of Rs 11.53 on 17 October 2013.
The stock had underperformed the market over the past one month till 14 October 2014, falling 13.90% compared with 2.63% fall in the Sensex. The scrip had also underperformed the market in past one quarter, rising 1.17% as against Sensex's 5.37% rise.
The small-cap company has an equity capital of Rs 36.21 crore. Face value per share is Rs 1.
The board of Zee Media Corporation will meet on 20 October 2014 to consider a proposal for raising funds by the company through various modes including by way of rights issue.
On the same day, the board will also consider Q2 September 2014 results of the company.
On a consolidated basis, Zee Media Corporation reported a net loss of Rs 17.52 crore in Q1 June 2014 compared with net profit of Rs 5.04 crore in Q1 June 2013. Net sales rose 71.7% to Rs 132.77 crore in Q1 June 2014 over Q1 June 2013.
Zee Media Corporation operates in the media industry. The company's programming covers all genres, such as news, social service programming, entertainment and sports.
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