BQ Blue's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Prabhudas Lilladher Report
In a case of shareholder activism, two large shareholders of Zee Entertainment Enterprises Ltd. holding around 18% in equity have called for an extraordinary general meeting to reconstitute the current board.
Specifically, three replacements are being sought including Punit Goenka, current managing director and chief executive officer.
Further, institutional investors have also suggested inducting six new names into the board.
While the existing Zee Entertainment management had taken steps to improve corporate governance and disclosure practices, given that the promoter shareholding was just 4% odd, a rejig was expected.
We believe, if a professional board takes over, decisions surrounding non-core investment in Sugar-Box (existing management was already going slow) and expansion of highly volatile and margin dilutive movie production business may be revisited.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
