The Zee Telefilms Ltd (ZTL) counter is back in favour. On Tuesday, it closed at Rs 132.10 on the NSE, up from the previous day's close of Rs 129.25 with volume of 59.02 lakh shares. On BSE, it closed at Rs 132.60 (Rs 129) with volume of around 33.83 lakh shares. On Monday, ZTL's combined volume on the NSE and the BSE was 1.14 crore. In the last few minutes of Tuesday's session, the scrip went up from Rs 131.10 to Rs 133.80.
The recent developments — the FII picking up 90 lakh shares of ZTL, the promoters clearing their liabilities of Rs 220 crore and Zee Telefilms and Turner International (India), floating a joint venture for their operations in India are the main reason behind such a sentiments at the counter.
According to market analysts, the market is awaiting the details of the proposed plan to close or merge 10 subsidiaries of ZTL, including some overseas ones. The company has 27 subsidiaries.
Source: Business Line