Zee Media Corporation gains on getting nod to incorporate wholly owned subsidiary
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Zee Media Corporation is currently trading at Rs. 15.45, up by 0.14 points or 0.91% from its previous closing of Rs. 15.31 on the BSE.
The scrip opened at Rs. 15.20 and has touched a high and low of Rs. 15.55 and Rs. 15.02 respectively. So far 1466976 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 18.30 on 12-Dec-2023 and a 52 week low of Rs. 7.63 on 29-Mar-2023.
Last one week high and low of the scrip stood at Rs. 16.94 and Rs. 14.86 respectively. The current market cap of the company is Rs. 955.03 crore.
The promoters holding in the company stood at 0.07%, while Institutions and Non-Institutions held 8.48% and 91.45% respectively.
Zee Media Corporation has received approval for incorporation / establishing of a wholly owned subsidiary of the Company with such name as may be approved by the Registrar of Companies, Ministry of Corporate Affairs.
The proposed Company to be incorporated in India shall inter-alia carry out the business of mainstream media, through Hyper Local App, which will revolutionize the news platform, by intelligently driven Al. It will offer users, personalized micro-local news based on their location. The Board of Directors of the Company at its meeting held on February 12, 2024, has approved the same.
Zee Media Corporation (formerly Zee News) is India's one of the largest News Network with various news channels in several different languages touching millions of viewers and digital properties like zeenews.com and dnaindia.com.
