Data from the Ministry of Information and Broadcasting (MIB) shows that several leading broadcasters, including JioStar, Zee Entertainment Enterprises, Eenadu Television, TV Today Network, NDTV and ABP Network, have surrendered licences for multiple channels.
The clarification came after reports claimed that around 200 employees were laid off over the past week. Zee said these exits fall within the previously announced restructuring blueprint, which aims to reduce total headcount to about 700 employees.
On the market front, ZEEL shares were trading 1.49 per cent higher at Rs 99.05. Despite Wednesday's uptick, the stock has declined 19.50 per cent on a year-to-date (YTD) basis.
The Zee Entertainment, at its meeting held on May 8, had recommended a final dividend of Rs 2.43 per equity share with a face value of Re 1 each for approval of members at the AGM.
HDFC Bank Ltd will turn ex-date for its 1:1 bonus issue on August 26, alongside Vysya Bank Ltd, which will go ex-date for its 1:5 bonus issue the same day.
Stocks including TCS, Hindustan Unilever, Glenmark Pharma, IREDA, Tata Elxsi, Anand Rathi Wealth, Birla Corp, Zee Entertainment and more will be in the spotlight on Friday, July 11.
ZEE Entertainment Enterprises: A total of 52.2 per cent of public institutions voted against the proposal while 20.21 per cent of public non-institutions were against the offer.
JM Financial retained its 'Buy' rating and target price of Rs 210 per cent for the stock. On Friday, ZEE was trading 2 per cent higher at Rs 146.80. The stock is up 15 per cent in the past two weeks.
ZEEL: The stock zoomed 11.51 per cent to hit a day high of Rs 148.25. It was last seen up 11.92 per cent at Rs 148.80. At this price, the scrip has climbed 16.25 per cent in a month.
A few brokerages stayed mixed on ZEEL. One firm maintained a 'BUY' rating with a target price of Rs 178 while another assigned a 'Neutral' rating.
ZEEL shares: Nuvama highlighted several factors underpinning its positive view, notably ZEE's efforts to enhance its Ebitda margin to 18–20 per cent by FY26, up from 14.4 per cent in FY25.





