While the stocks met various other inclusion parameters, there were fears they may still get disqualified given the sharp run up in their stock prices.
In the continuing battle between the promoter family and Invesco, ZEEL said its MD and CEO Punit Goenka has informed its board about a proposal made by Invesco about the merger, under which Strategic Group would hold majority stake but he was offered to be appointed as MD and CEO of the merged entity besides offering 4 per cent stake. In a regulatory filing, ZEEL alleged that Invesco's stance in their Open Letter that they "will firmly oppose any strategic deal structure that unfairly rewards select shareholders, such as the promoter family, at the expense of ordinary shareholders" runs contrary to the very deal Invesco was proposing itself a few months ago.
Amazon's rivalry in India with oil-to-retail conglomerate Reliance Industries looks set to head to the cricket field, where they will likely battle media heavyweights for telecast rights to the Indian Premier League (IPL) with its hundreds of millions of viewers.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'It's not a sequel to Wanted, it's just that the character's name is Radhe.'
Invesco, the single largest shareholder of Zee Entertainment Enterprises Ltd (ZEEL), on Wednesday said it had tried to facilitate a possible deal between Reliance and the company but refuted claims it had pushed for the transaction at a lower valuation. The latest statement from Invesco comes a day after ZEEL chief Punit Goenka told the company's board that Invesco had come with a proposal in February for a merger with certain entities owned by a large Indian group (Strategic Group) with inflated valuation "by at least Rs 10,000 crore". In a statement on Wednesday, Invesco mentioned that Reliance was the large Indian group.
Sony Pictures Networks India Pvt Ltd (SPNI) and Zee Entertainment Enterprises Ltd (ZEEL) on Wednesday said they have signed definitive agreements for their merger following conclusion of an exclusive negotiation period during which both parties conducted mutual due diligence. In a joint statement, the two companies said 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, it added.
"Unfortunate stance of Mia Sharif at UN. Zee is considering stopping Zindgi programs from Pakistan, as well artists from there should leave," Subhash Chandra tweeted.
Debt funds have exposure of nearly Rs 8,000 crore to Zee group papers. Aditya Birla MF, HDFC MF, Franklin Templeton MF, and ICICI Prudential MF have the highest exposure, reports Samie Modak.
As the feud continues between Zee and Invesco, appellate body NCLAT on Thursday directed the National Company Law Tribunal (NCLT) to give reasonable opportunity to the media major to reply to Invesco's plea for holding a meeting of shareholders, and also remarked that the tribunal made an "error" by not providing sufficient response time. With the order capping a day of fast legal developments at the NCLAT as well as the NCLT within a span of a little over an hour, the spat between Zee Entertainment Enterprises Ltd (ZEEL) and minority shareholder Invesco will now come up for hearing before the NCLT on Friday. Invesco is seeking the ouster of ZEEL MD and CEO Punit Goenka and appointment of six new directors on its board.
The regulator said violations could not be established against the company.
The chairman of the Essel Group says he has settled 91.2 per cent of the estimated Rs 11,000 crore debt on the group's books.
In terms of market capitalisation, Zee alone has a market cap of Rs 24,000 crore compared to Rs 15,000 crore of the merged Reliance entity.
With an m-cap of Rs 31,744 crore, IRCTC stood at 96th position in the overall market capitalisation ranking, the BSE data shows.
Media Firm Zee Entertainment Enterprise Ltd (ZEEL) sold its sports channel Ten Sports to Sony Pictures Networks for a US$ 385-million (about Rs 2,579 crore) in an all cash deal.
The move by these broadcasters comes close on the heels of the Telecom Regulatory Authority of India announcing a review of its earlier tariff order, announced six months ago, which among others capped the prices for la carte channels.
The promoters expect to get Rs 9,000-10,000 crore from the sale of their assets
According to industry players, over 50 FMPs have exposure to Zee Group companies.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
The innovation will be on its South Indian channels on September 23-24.
While Zee managed single-digit growth in revenue, HT Media's income dipped marginally, reports Urvi Malvania/Business Standard.
'India Poochega Sabse Shaana Kaun is a light, happy and breezy show that makes you win money,' Shah Rukh Khan tells us.
Among the Sensex losers, Yes Bank tumbled 5.46 per cent, followed by Bajaj Finance 5.40, ICICI Bank 3.82 per cent, IndusInd Bank 3.10 per cent and HeromotoCorp 2.55 per cent.
Indian companies realise several business opportunities ahead of International Yoga Day on Sunday
Zee and Star, the two largest media companies in India, are undergoing some radical ownership changes. What could it mean? Vanita Kohli Khandekar attempts an answer.
The Essel Group on Monday rebutted news reports that it is setting up parallel cricket boards across different countries in collaboration with Ten Sports Network but said it is now geared up to enter the sports business at a global level, focusing on cricket.
Investors brace up ahead of the key macrodata- IIP and CPI numbers due to be unveiled tomorrow.
The S&P BSE Sensex closed 318 points at 24,455 and the Nifty50 shed 99 points to end at 7,438.
Zee5 is now the fifth largest streaming app after YouTube, Hotstar, MX Player and Voot, and there is talk of hiving off Zee5 to drive valuation, says Vanita Kohli-Khandekar.
Among key stocks, Tata Motors, Hero MotoCorp, L&T, Wipro, ICICI Bank, Dr Reddy's Labs and ICICI Bank, all up between 1%-3%
After a robust Q4 FY14, thanks to election spends on advertising across platforms, media entities might see slightly lower ad revenue growth at 12 to 14 per cent.
The progress of the GST Bill in Parliament is also likely to remain in focus
Sairat is the first Marathi film to cross Rs 100 crore.
The profit boost for studios will in large part be driven by the rush for local-language content from platforms like Netflix Inc
The lack of bandwidth and content means it will be a long time before online streaming services take off in India.
The 30-share Sensex closed at 27,112 up by 481 points whereas the Nifty ended higher by 139 points at 8,115.
India-Pak face-off saw brands pay up to Rs 20 lakh in last-minute spot buying.
The six are English dailies the Hindustan Times, The Hindu and The Telegraph; their sister publications The Hindustan and The Hindu Tamil; and Ananda Bazar Patrika.
Markets end higher ahead of Fed outcome, China stimulus
Mythological and historical shows are lapped up not just by the young, but equally by grown men and women.
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