Bulk deal alert: AG Dynamic Funds buys 44 lakh shares of this media firm

Shares of Zee Media are in news today after AG Dynamic Funds Limited bought stake in the firm in a bulk deal in the previous trading session. AG Dynamic Funds purchased 44.08 lakh shares in the company at an average price of Rs 21.96 per share. The stake purchase amounted to Rs 9.68 crore.

The stock closed at Rs 21.93 on Monday. Market cap of the firm stood at Rs 1406 crore. Zee Media stock has clocked returns of 301% in five years and zoomed 105% in six months. 

The stock touched its 52-week low of Rs 10 on March 13, 2024 and rose to a 52 week high of Rs 26.29 on October 3, 2024 

It has a one-year beta of 1.7, indicating very high volatility during the period.    

In terms of technicals, the relative strength index (RSI) of the stock stands at 61.7, signaling it's trading neither in overbought nor in the oversold zone. Zee Media shares stand lower than the  5 day, 10 day but higher than the 20 day, 30 day 50 day, 100 day, 150 day and 200 day moving averages. 

Zee Media Corporation is mainly engaged in the business of broadcasting of satellite television channels i.e. news / current affairs and regional language channels and sale of television programs and content.