Share price of Zee Ent. rises as Nifty strengthens

Shares of Zee Entertainment Enterprises Ltd. gained 1.54 per cent to Rs 243.6 in Monday's trade as of 12:19PM (IST). The stock hit a high price of Rs 244.0 and low of Rs 238.95 during the session.

The return on equity (ROE) for the stock stood at 8.87 per cent. Traded volume on the counter stood at 12:19PM shares and turnover at Rs 0.99 crore around that time. The stock of Zee Entertainment Enterprises Ltd. quoted a 52-week high price of Rs 332.0 and 52-week low prices of Rs 200.5, respectively.

The stock's Beta value, which measures its volatility in relation to the broader market, stood at 0.98.

Promotor/FII Holding
Promoters held 0.22 per cent stake in the company as of 30-Jun-2022, while FIIs held 39.18 per cent and domestic institutional investors had 21.42 per cent.

Key Financials
The company reported consolidated sales of Rs 2046.0 crore for the quarter ended 30-Sep-2022, up 8.86 per cent from previous quarter's Rs 1879.53 crore and up 1.77 per cent from the year-ago quarter's Rs 2010.47 crore. Net profit after tax for the latest quarter stood at Rs 112.89 crore, down 58.21 per cent from the same quarter a year ago.

Technicals
The MACD signalled a bearish bias on the counter. The MACD is known for signalling trend reversals in traded securities or indices.
It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the signal line, is plotted on topof the MACD to reflect "buy" or "sell" opportunities. When the MACD crosses below the signal line, it gives a bearish signal, indicating that the price of the security may see a downward movement and vice versa.