BUSINESS STANDARD Zee Entertainment: stock falls 20% a day after ED summons Subhash Chandra Zee on Tuesday said it had no borrowings from YES Bank by any stretch of the imagination
COMPANIES NEWS: 20% Shares of Zee Entertainment slipped 20 percent in exchange on Tuesday, a day after the Enforcement Directorate (ED) brought Essel bunch advertiser Subhash Chandra as a major aspect of its test into YES Bank. Chandra is booked to meet ED authorities on Wednesday, which was affirmed by Essel bunch on Monday. Zee on Tuesday said it had no borrowings from YES Bank by any means. "As conveyed by Essel gathering, the credit offices benefited were for its foundation business and are completely made sure about," Zee said. The supply of the media firm shut exchange at Rs 133.20 per share on the BSE, it's most minimal in more than seven years. It has now declined for four straight exchanging meetings on the BSE. Up until now, in the schedule year 2020, Zee's stock cost has fallen more than 50 percent from levels of Rs 292 for every offer toward the beginning of the year. This is against a 23 percent fall in the benchmark Sensex for a similar period. READ MORE: Zee Entertainment