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    Zee Ent. shares down 2.55% as Sensex falls

    Synopsis

    A total of 49,970 shares changed hands on the counter till 12:08PM (IST)

    tech view 2Shutterstock.com
    RSI has turned north from the 60 level, confirming bullishness.
    Shares of Zee Entertainment Enterprises Ltd. fell 2.55 per cent to Rs 238.9 in Friday's session as of 12:08PM (IST) even as the equity benchmark Sensex traded 744.37 points lower at 60081.85.

    Earlier in the day, the stock witnessed a gap down start to the session. The stock quoted a 52-week high price of Rs 357.0 and a 52-week low of Rs 200.5 on NSE. Around 49970 shares changed hands on the counter till 12:08PM (IST).

    The stock opened at Rs 243.0 and has touched an intraday high and low of Rs 245.15 and Rs 238.6 during the session so far. The counter quoted a price-to-earnings (PE) ratio of 32.92, earnings per share (EPS) of Rs 7.29 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 December 23, 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 23047.66 crore, the company operates in the TV Broadcasting & Software Production industry. For the quarter ended 30-Sep-2022, the company reported consolidated sales of Rs 2046.0 crore, up 8.86 per cent from the previous quarter?s Rs 1879.53 crore and up 1.77 per cent from the same quarter a year ago. The company reported net profit of Rs 112.89 crore for the latest quarter, down 58.21 per cent from the corresponding quarter last year.

    Technical Indicators
    The relative strength index (RSI) of the stock stands at 28.74. 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.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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