Shares of Zee Entertainment Enterprises Limited (ZEEL) bounced back on Monday and ended with a sharp gain of nearly 17% after it denied links with a company being probed for suspicious demonetisation deposits.
The stock zoomed 16.64% to close at ₹372.50 on the BSE. Intraday, it surged 19.24% to ₹380.80.
At NSE, shares of the company jumped 15.73% to close at ₹368.50. Dish TV also bounced back after morning selling pressure and ended at ₹23.85, up 5.53%, on the BSE.
Subhash Chandra-promoted two Essel group companies Zee Entertainment Enterprises and Dish TV on Sunday denied links with Nityank lnfrapower and Multiventures Ltd., a company being probed by the SFIO for suspicious demonetisation deposits, as claimed in a media report.
Shares of other Zee group companies however, continued to face selling pressure on Monday also with Zee Media Corporation plunging 19.68% and Zee Learn tanking 7.80% t at close of trade on BSE.
On January 25, shares of Zee Group companies had come under massive selling pressure, plummeting up to 33%, and suffered a combined erosion of ₹13,352 crore in market valuation.
ZEEL, in a regulatory filing, said Nityank lnfrapower and Multiventures is an “independent company and does not belong to the Essel Group.”
