Zee Entertainment shares plunge 8%, market valuation falls by Rs 2,036 cr

Shares of Zee Entertainment Enterprises tanked nearly 8 per cent on Tuesday amid uncertainty over the fate of the $10 billion merger between the company and Culver Max Entertainment, formerly Sony Pictures Networks India.

The stock tumbled 12.66 per cent to Rs 242.30 during the day on the BSE. It ended at Rs 256.25 apiece, lower by 7.64 per cent.

On the NSE, the stock plunged 13.60 per cent to Rs 240.30 during the day. Shares of the company ended at Rs 255.95 each, down 7.98 per cent.

The company’s market valuation fell by Rs 2,036.3 crore to Rs 24,613.31 crore.