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How Zee Entertainment’s 37% Plunge Played Out
The anatomy of Zee Entertainment’s 37 percent plunge on Jan. 25.
31 Jan 2019, 05:19 PM IST i

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A broker holds a fixed line telephone as he views financial data on screens the trading floor in London, U.K. (Photographer: Luke MacGregor/Bloomberg)
Shares of Zee Entertainment Enterprises Ltd. saw their worst single-day rout as they tumbled as much as 37 percent on Jan. 25.The immediate trigger was said to be a report in news website The Wire that its controlling shareholder Essel Group’s name emerged in a probe linked to large deposits made after demonetisation—the company denied that. But there had been an overhang on the stock because of promoter debt.The Essel Group after No...

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