Share price of Zee Entertainment Enterprises rose 10 percent intraday after Florida Retirement System (FRS) acquired more half a percent stake in the firm on April 22. Zee Entertainment share price rose up to 14.06% to Rs 172.8 compared to the previous close of Rs 151.50 on BSE.
The stock opened 4% higher at Rs 157.45 today. Total 15.09 lakh shares amounting to turnover of Rs 24.96 crore changed hands on BSE.
Market cap of the firm rose to Rs 15,756 crore.
However, the stock has lost 60% during last one year and fallen 44.16% since the beginning of this year.
FRS bought 51,09,188 equity shares (representing 0.53 percent of total paid up equity) of the Indian media and entertainment company, as per bulk deals data available on NSE. FRS purchased this stake at Rs 141.29 per share.