Zee Entertainment jumps up to 19% on promoter stake sale, pares gain later

Shares of Zee Entertainment Enterprises (ZEEL) surged up to 19 per cent to Rs 364 in the early morning deals on the National Stock Exchange (NSE) on Thursday after the promoter Essel Group sold nearly 15 per cent stake in the company for Rs 4,343 crore.

Around 142.87 million equity shares (representing 14.87 per cent stake of ZEEL) changed hands on the NSE through block deals, the exchange data shows.

ZEEL’s promoter Essel Group on Wednesday after market hours had said it was planning to sell 16.5 per cent stake in broadcasting & cable TV operator to financial investors.