Zee Entertainment soars 12% on reports of fresh merger discussion with Sony

Shares of Zee Entertainment Enterprises (ZEEL) surged 12 per cent to Rs 199.85 on the BSE in Tuesday’s intraday trade, aided by heavy volumes, on reports that the company and Sony Group are in discussions that may save the $10-billion merger that was called off on January 22. The two companies have held meetings in Mumbai over the last 15 days, The Economic Times (ET) reported. At 2:35 PM, the stock was up 9 per cent at Rs 194.5 per share. Average trading volumes on the counter been more-than-doubled today with a combined 66.64 million equity shares changing hands on the NSE and BS, data shows. With today’s gain, the stock price of ZEEL has recovered 28 per cent from a level of Rs 155.90 hit on January 23. According to the report,