Business

Zee Entertainment shares soar 15% after settlement agreement with Sony

Zee Entertainment Enterprises Ltd.’s share price surged by up to 15% on August 27 after the media company announced it has reached an agreement to settle all disputes with Sony related to the termination of their merger. Zee Entertainment Enterprises share price jumped as much as 15% Today to trade at intra-day high of Rs 154.90 on NSE.

What Did ZEE Announced?

Zee Entertainment Enterprises announced on Tuesday that it has reached an agreement with Sony to settle all disputes related to the termination of their merger. Under the agreement, both companies will withdraw all claims against each other.

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Zee also confirmed that it will resolve all disputes arising from its transactions with CMEPL and BEPL. The agreement to withdraw all applications is pending before the Singapore Arbitration Centre.

Stock Performance In Last One Year

Zee Entertainment Enterprises faced a mixed bag of results. In the last month, the stock tried to secure positive returns at 6.10%, showcasing a modest upward movement. Contrastingly, the past six months were challenging, with the stock experiencing negative returns of 11.41%, indicating a period of decline.

Year-to-date figures remain in negative territory, showing a decline of -46.43%. Over the past twelve months, the stock has also faced pressure, plunging 41.93%.

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