During the day, the stock fell 6.28 per cent to Rs 182.60 apiece on the BSE
Subhash Chandra and Punit Goenka. Pics/Twitter
Shares of Zee Entertainment Enterprises Ltd (ZEEL) ended nearly 1 per cent lower on Tuesday after SEBI banned Essel Group chairman Subhash Chandra and ZEEL’s Punit Goenka from holding any directorial or key managerial position in any listed firm.
ADVERTISEMENT
During the day, the stock fell 6.28 per cent to Rs 182.60 apiece on the BSE. Shares, however, trimmed most of their early losses and ended at Rs 194, lower by 0.44 per cent. On the NSE, it tanked 6.59 per cent to Rs 182 in intra-day trade. It finally ended at Rs 193.35, down 0.76 per cent.
The case pertains to Chandra, who was also the chairman of ZEEL during the alleged violation, and Goenka having abused their position as directors for siphoning off funds for their own benefit. In its interim order, SEBI noted that the duo alienated the assets of ZEEL and other listed companies of Essel Group for the benefit of associate entities.
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever