Shares of Zee Ent. rise as Nifty gains

Shares of Zee Entertainment Enterprises Ltd. gained 3.18 per cent to Rs 292.25 in Friday's trade as of 12:59PM (IST). It hit a high of Rs 292.7 and low of Rs 284.45 during the session.

The stock quoted a 52-week high price of Rs 378.6 and a low of Rs 166.8. The return on equity for the stock stood at 7.92 per cent. About 364,202 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 outperformer, up 30.67 per cent in the past one year in comparison with a 20.05 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 166.8 on January 28, while the 50-DMA was at Rs 329.1. 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 31-Dec-2021. Mutual funds and foreign institutional investors held 12.16 per cent and 52.21 per cent stake.