Shares of Zee Ent. rise as Nifty drops
Zee Entertainment Enterprises Ltd. gained 0.18 per cent to Rs 224.45 in Wednesday's trade as of 11:18AM (IST). It hit a high of Rs 229.15 and low of Rs 223.8 during the session.
The stock quoted a 52-week high price of Rs 286.9 and a low of Rs 172.25. The return on equity for the stock stood at 0.44 per cent. About 431,567 shares have changed hands on the counter so far.
The stock's beta value, which measures its volatility in relation to the broader market, stood at 0.98. The scrip has been an underperformer, down 2.67 per cent in the past one year in comparison with a 24.17 per cent gain in Sensex.Technicals On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 172.25 on July 19, while the 50-DMA was at Rs 191.8. If a stock trades well 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 a bearish trend and if trades between these averages, then it suggests the stock can go either way.Promoter/FII Holding Promoters held 0.22 per cent stake in Zee Entertainment Enterprises Ltd. as of 30-Jun-2023. Mutual funds and foreign institutional investors held 30.0 per cent and 33.4 per cent stake.
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