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Zee group companies report sharp fall
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₹7,705 crore as the market cap of the four listed companies fell from ₹27,257.4 crore on Saturday to ₹19,551.65 crore at the end of market hours on Tuesday. Incidentally, the earlier biggest single-day fall in shares of Zee Entertainment was five years back, when the scrip nosedived 26.6% on 25 January 2019 after media reports of a federal probe in the businesses owned by Chandra.
“Sony has terminated its merger with Zee considering various legal, leadership, and compliance issues. This resulted in a fall in share prices of Zee, which were held for a long time in the belief that the merger would propel the consolidated entity as the biggest media house in India," said Ashwin Patil, senior research analyst at LKP Securities.
Read more on livemint.comAbout this in other media
'Acting with predetermined mind': Before Zee-Sony merger collapse, Subhash Chandra wrote to FM, slammed Sebi's role livemint.com /9 months ago
ZEE-Sony merger collapse: Mutual funds that have highest and lowest exposure to ZEE livemint.com /10 months ago
Disney Star's deal with Reliance may take a $2 billion hit amid the Zee-Sony fallout. Here's why livemint.com /10 months ago
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