In an alternate submitting, Zee Media confirmed that the board assembly is scheduled for September 27, 2024, and can give attention to approving the elevating of funds by strategies resembling non-public placement, certified institutional placement, preferential challenge, or different mixtures, pending needed approvals. This determination follows prior approvals from the corporate’s board of administrators and shareholders on June 26, 2024, and August 10, 2024, respectively.
The proposed fundraising will probably be topic to needed regulatory approvals and particular phrases and situations to be finalized through the assembly.
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At 11:29 am, Zee Media shares have been buying and selling over 15% larger at Rs 16.06 on BSE. The inventory has rallied 45% within the final six months. Up to now 12 months, the counter has risen 32%. Compared, the Nifty rose 28.6% throughout this era.
Technically, the inventory’s relative power index (RSI) is at 59.9. Based on Trendlyne, an RSI under 30 is taken into account oversold, whereas above 70 signifies overbought situations. Moreover, the MACD is at -0.1, which is above its middle and sign Line, it is a bullish indicator.The inventory is buying and selling above its 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day easy shifting averages (SMAs).As of June 2024, 0.42% of Zee Media Company’s fairness lies within the arms of the promoter and the promoter group whereas 99.58% of the fairness rests within the arms of the general public shareholders.
(Disclaimer: Suggestions, recommendations, views, and opinions given by the consultants are their very own. These don’t symbolize the views of The Financial Occasions.)
