ZEEL shares fall 12% to lower circuit
image for illustrative purpose
New Delhi: Shares of Zee Entertainment Enterprises Ltd (ZEEL) tumbled 12 per cent in the mid-session trade on Wednesday amid reports that Sebi has found financial discrepancies in the accounts of the company. The stock of the company nosedived 11.58 per cent to Rs170.65 apiece on the BSE. ZEEL shares plunged 11.39 per cent to Rs170.70 per piece on the NSE.
In the mid-session trade, the scrip also hit its lower circuit limit on the bourses. The 30-share BSE Sensex benchmark rose 90.17 points or 0.12 per cent to 73,147.57, while Nifty of the NSE rose 40.25 points to 22,237.20. As per the reports, during Sebi’s probe into Zee’s founders, the regulator discovered that approximately Rs 2,000 crore (equivalent to $241 million) may have been diverted from the company.
However, the company spokesperson clarified that the reports related to accounting issues are “incorrect and false”.
