Zee Ent shares plunge 8%; Mcap falls by Rs 2,036 cr

New Delhi: Shares of Zee Entertainment Enterprises tanked nearly 8 per cent on Tuesday amid uncertainty over the fate of the $10 billion merger between the company and Culver Max Entertainment, formerly Sony Pictures Networks India.

The stock tumbled 12.66 per cent to Rs242.30 during the day on the BSE. It ended at Rs256.25 apiece, lower by 7.64 per cent. On the NSE, the stock plunged 13.60 per cent to Rs240.30 during the day.

Shares of the company ended at Rs255.95 each, down 7.98 per cent. The company’s market valuation fell by Rs2,036.3 crore to Rs24,613.31 crore. In volume terms, 105.74 lakh shares of the company were traded on the BSE and over 15.72 crore shares on the NSE during the day.