Shares of Zee Ent. rise as Nifty gains

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Shares of Zee Ent.  rise  as Nifty  gains


Shares of Zee Entertainment Enterprises Ltd. gained 1.83 per cent to Rs 203.5 in Wednesday’s trade as of 12:46PM (IST). It hit a high of Rs 204.25 and low of Rs 200.0 during the session.

The stock quoted a 52-week high price of Rs 261.0 and a low of Rs 126.0. The return on equity for the stock stood at 5.63 per cent. About 190,092 shares have changed hands on the counter so far.

The stock’s beta value, which measures its volatility in relation to the broader market, stood at 0.98.

The scrip has been an underperformer, up 44.17 per cent in the past one year in comparison with a 80.38 per cent gain in Sensex.

Technicals

On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 126.0 on April 07, while the 50-DMA was at Rs 214.45. If a stock trades well above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding

Promoters held 0.25 per cent stake in Zee Entertainment Enterprises Ltd. as of 31-Dec-2020. Mutual funds and foreign institutional investors held 3.93 per cent and 65.76 per cent stake.



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