Zee Ent. shares gain 2.31% as Sensex rises

Shares of Zee Entertainment Enterprises Ltd. traded 2.31 per cent higher in Friday's session at 10:00AM (IST). The stock opened at Rs 248.0 and has touched an intraday high and low of Rs 253.2 and Rs 245.05, respectively, during the session so far.

The stock quoted a 52-week high of Rs 378.6 and a 52-week low of 166.8. About 191,413 shares changed hands on the counter so far.

Benchmark Nifty50 was up 68.25 points at 16663.15, while the BSE Sensex traded 257.72 points higher at 55722.11 at the time of writing of this report.


In the Nifty pack, 33 stocks traded the day in the green, while 16 were in the red.


Key Financials
For the quarter ended 31-Dec-2021, the company reported consolidated sales of Rs 2130.44 crore, up 5.97 per cent from the previous quarter's Rs 2010.47 crore and up 22.72 per cent from the year-ago quarter. The company reported net profit of Rs 298.73 crore for the latest quarter.

Promoter Holdings
Promoters held 3.99 per cent stake in the company as of 31-Dec-2021, while FIIs held 52.21 per cent and MFs 12.16 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 264.35 on March 11, while the 50-DMA was at Rs 279.63. If a stock trades 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 as bearish trend and if trades between these averages, then it suggests the stock can go either way.