Zee Ent. shares down 0.36% as Sensex falls

Shares of Zee Entertainment Enterprises Ltd. fell 0.36 per cent to Rs 250.95 in Wednesday's session as of 01:45PM (IST) even as the equity benchmark Sensex traded 108.15 points lower at 58744.92.

Earlier in the day, the stock witnessed a gap down start to the session. The stock quoted a 52-week high price of Rs 378.6 and a 52-week low of Rs 166.8 on NSE. Around 551860 shares changed hands on the counter till 01:45PM (IST).

The stock opened at Rs 253.8 and has touched an intraday high and low of Rs 254.3 and Rs 247.05 during the session so far. The counter quoted a price-to-earnings (PE) ratio of 25.08, earnings per share (EPS) of Rs 10.04 and price to book value (PB) of 2.55, while the return on equity (ROE) stood at Rs 8.87.

Promoter/ FII Holding
The promoters held 3.99 per cent stake in the company as of August 10, while FII and MF ownerships stood at 39.18 per cent and 21.42 per cent, respectively.

Key Financials
With a market capitalisation of Rs 24190.68 crore, the company operates in the TV Broadcasting & Software Production industry. For the quarter ended 31-Mar-2022, the company reported consolidated sales of Rs 2361.17 crore, up 10.83 per cent from the previous quarter?s Rs 2130.44 crore and up 18.99 per cent from the same quarter a year ago. The company reported net profit of Rs 181.93 crore for the latest quarter, down 34.02 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 64.16. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a "buy" or "sell" recommendation using a single valuation ratio.