2 hrs ago
Zee Entertainment Shares Rise 8% After Four-Day Losing Run
Zee Entertainment’s share price went up sharply during trading on Wednesday, 16 September.
It reached ₹83.62, about 8% above its previous closing price.
This happened after the shares had fallen for four days in a row.
The company’s stock has also dropped during September and August.
A tribunal paused an earlier repayment decision connected to founder Subhash Chandra and froze his assets.
One expert believes the stock is still in a long-term downward trend.
Another expert thinks investors could buy the shares, with possible targets of ₹86, ₹92, and ₹98 or more.
The two experts therefore have different views about whether the rise can continue.
Zee Entertainment shares rose as much as 8% to ₹83.62 on the BSE on 16 September.
The gain followed four consecutive losing sessions and recent declines of 14% in September and 19% in August.
The National Company Law Tribunal stayed an earlier order involving founder Subhash Chandra’s repayment plan and froze his assets.
One analyst said the stock remains in a structural downtrend, while another recommended buying with targets up to ₹98 or higher.
The stock is down 10% year to date and has traded between a 52-week low of ₹68.10 and a high of ₹121.75.
- Who
- Zee Entertainment, founder Subhash Chandra, the National Company Law Tribunal, and market analysts Vipin Kumar and Mahesh M Ojha.
- What
- Zee Entertainment shares rose 8% intraday after four days of losses, while analysts offered differing views on the stock’s outlook.
- Where
- On the Bombay Stock Exchange (BSE).
- When
- Wednesday, 16 September; the article also cites performance during September, August, and year to date.
- Why
- The rise reflected buying interest after a recent correction, although the stock has also been affected by concerns surrounding the tribunal’s action in Subhash Chandra’s insolvency case.
Bearish View
Buy View
Near-term direction
Bearish View
Vipin Kumar of Globe Capital Market said the stock remains in a persistent structural downtrend, with lower lows and lower highs and trading below key moving averages.
Buy View
Mahesh M Ojha of KC Securities maintained a buy view and gave targets of ₹86, ₹92, and ₹98 or higher.
Meaning of the rally
Bearish View
Kumar said short-term rallies are likely to be temporary pullbacks and selling opportunities until a bottom forms with strong volume.
Buy View
Ojha’s targets indicate that he expects the share price to rise beyond its recent intraday level, while using ₹74 as a stop loss.
Repayment-plan context
Bearish View
The tribunal’s decision to stay the earlier order and freeze Chandra’s assets contributed to the recent downtrend, according to the article’s context.
Buy View
The share-price rebound showed renewed buying interest despite the continuing uncertainty around the insolvency case.
Key facts
- Intraday high
- ₹83.62
- Previous close
- ₹77.40
- September performance
- Down 14% so far
- August performance
- Down 19%
- Year-to-date performance
- Down 10%
- 52-week range
- Low of ₹68.10; high of ₹121.75
- Buy-view targets
- ₹86, ₹92, and ₹98+
- Buy-view stop loss
- ₹74
Quotes
Vipin Kumar
AVP-Research at Globe Capital Market
“A sustainable trend reversal appears unlikely until the stock establishes a definitive bottoming formation backed by strong volume expansion. Until then, any short-term upward bounce should be viewed as a temporary pullback within an overall bearish setup.”
livemint.com
Sources
Related news
Zee Entertainment shares fall as lenders challenge NCLT repayment plan
Zee Entertainment Shares Fall 6% Amid Loan Allegations
How Chandra’s ₹6.5 Crore Repayment Plan Survived NCLT Scrutiny
ZEEL Gains as Promoters Get Convertible Warrants Amid UBS Sell
Subhash Chandra Insolvency Case Faces Huge Haircut and NCLT Freeze
LCC Projects IPO Set for NSE, BSE Listing Tomorrow
A-One Steels India Sets ₹405 Crore IPO For September 24
MV Electrosystems Shares Nearly Double IPO Price Amid AGM Rally
NSE IPO Opens September 17 With Rs 14,280 Minimum Investment
