Zee Entertainment gains 5% after lenders agree to extend timeline for Essel Group

NEW DELHI: Shares of Zee Entertainment EnterprisesNSE 1.08 % (ZEEL) rallied 5 per cent in early trade on Wednesday after ETNow reported that lenders have unanimously agreed to extend the timeline for Essel Group to repay debt.

“Lenders have extended support to the Group and its promoters,” the report said.

The scrip advanced as much as 5 per cent to Rs 293.30 on BSE, while the benchmark BSE Sensex was trading over 200 points, or 0.50 per cent, down at 38,859.