Shares of Zee Entertainment Enterprises Ltd. were trading flat after touching a day’s high of Rs 143.25 on 25 July. In 2024, the stock has fallen by 50%, significantly eroding investor wealth.

During the last year, the stock has declined by 42%, highlighting ongoing challenges for the media firm. The company has delivered disappointing returns for investors both recently and over the long term.

Over the past five years, ZEE’s stock has dropped by 62%, whereas in the past three years, it has plunged by almost 32%.

Zee’s share price of Rs 139.99 is 53.2% below its 52-week high of Rs 299.50, while the stock is 10.98% above its 52-week low of Rs 126.15.

In July, the stock dropped by 7%, reversing earlier gains. It rose 1.5% in June, 1.8% in May, and 6% in April. Earlier during this year, the stock faced significant declines: 14% in March, 7.3% in February, and nearly 37% in January.

The company’s share price fell 50% in 2024 YTD, primarily due to the collapse of its merger with Sony. The merger aimed to create a $10 billion media conglomerate but fell through after Sony withdrew.

Sony had been working on the deal for two years and filed multiple petitions with India’s NCLT to exit the agreement. They issued a termination notice to Zee on 22 January, citing Zee’s failure to meet merger agreement conditions and demanding a $90 million break-up fee.

Zee denied any breach of the agreement, which was initially announced in December 2021. The situation worsened with the termination of ZMCL’s CEO, Abhay Ojha, in May. The company did not provide specific reasons for Ojha’s departure.

At 3:30 PM, the shares of Zee Entertainment closed 2.38% higher at Rs 140 on BSE.

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