Zee Entertainment strengthens after RBI hikes FII limit

Zee Entertainment Enterprises (ZEE) is currently trading at Rs. 272.75, up by 7.35 points or 2.77% from its previous closing of Rs. 265.40 on the BSE. The scrip opened at Rs. 280.50 and has touched a high and low of Rs. 282.70 and Rs. 272.00 respectively. So far 263131 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 301.90 on 21-May-2014 and a 52 week low of Rs. 208.10 on 28-Aug-2013. Last one week high and low of the scrip stood at Rs. 282.70 and Rs. 264.30 respectively. The current market cap of the company is Rs. 26325.90 crore. The promoters holding in the company stood at 43.07% while Institutions and Non-Institutions held 51.37% and 5.56% respectively. Reserve Bank of India (RBI) has allowed up to 100% FII investment in Zee Entertainment. Following this, foreign institutional investors (FIIs) can now invest up to 100%, revised from earlier limit 49%, of the paid up capital of Zee Entertainment Enterprises under the portfolio investment scheme. As on March 2014, promoter shareholding in the company was 43.07% while FIIs held 47.94% shares. FIIs, NRIs and PIOs (Persons of Indian Origins) can invest in primary and secondary capital markets in India through Portfolio Investment Scheme (PIS). Zee Entertainment is India’s largest vertically integrated media and Entertainment Company. Its portfolio consists of brands like Zee TV, Zee Cinema, Zee Music, Zee Cafe, Zee Smile, Zee Action, Zee Premiere, ETC, ETC Punjabi, TEN Sports, Zee Studio, Zee Classic, Zee Trendz and Zee Sports.