Zee Ent. shares drop 1.06% as Sensex falls

Shares of Zee Entertainment Enterprises Ltd. traded 1.06 per cent lower in Tuesday's session at 12:48PM (IST). The stock opened at Rs 265.15 and has touched an intraday high and low of Rs 267.6 and Rs 265.15, respectively, during the session so far.

The stock quoted a 52-week high of Rs 378.6 and a 52-week low of 200.5. About 45,652 shares changed hands on the counter so far.

Benchmark Nifty50 was down 106.25 points at 18594.8, while the BSE Sensex traded 354.35 points lower at 62480.25 at the time of writing of this report.

In the Nifty pack, 9 stocks traded the day in the green, while 41 were in the red.


Key Financials
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 year-ago quarter. The company reported net profit of Rs 112.89 crore for the latest quarter.

Promoter Holdings
Promoters held 3.99 per cent stake in the company as of 30-Jun-2022, while FIIs held 39.18 per cent and MFs 21.42 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 252.14 on December 06, while the 50-DMA was at Rs 263.41. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.