Zee Entertainment share price surges after Rakesh Jhunjhunwala and BofA Securities buy stake
Shares of Zee Entertainment Enterprises (ZEEL) have been on a bull run over the past two trading sessions after ace investor Rare Enterprises Ltd and BofA Securities Europe SA bought shares of the company worth over Rs 225 crore through open market transactions.
After surging 40.06 per cent on the National Stock Exchange (NSE) on Tuesday, the stock rallied another 14.99 per cent in the intraday trade on Wednesday to hit a 52-week high of Rs 300.75 on the NSE. The scrip has jumped as much as 60.96 per cent from Monday’s close of Rs 186.85.
On Tuesday, Rare Enterprises bought 50 lakh scrips at Rs 220.44 per share through bulk deal transactions on NSE. BofA Securities Europe SA purchased 48.65 lakh shares at an average price of Rs 236.2 apiece.