Zee Entertainment shares wobble after share sale by promoters

NEW DELHI: Shares of Zee Entertainment EnterprisesNSE -0.03 % were swinging between gains and losses after it cracked over 4 per cent in early trade on Tuesday.

Around 9:45 am, shares of the company traded almost flat at Rs 431.35 apiece.

On Monday, the company said in a BSE filing that entities belonging to Subhash Chandra of Essel Group sold 76.35 lakh shares worth Rs 333 crore in Zee Entertainment in the open market between February 13, 2019, and March 29, 2019.

According to multiple regulatory filings, promoter group entity Cyquator Media Services has sold 53.18 lakh shares of Zee, while Essel Corporate LLP sold 23.17 lakh shares in the entertainment company.