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Zee Entertainment shares fall 6% after SAT denies suspending SEBI’s order on Punit Goenka, Subash Chandra

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Shares of Zee Entertainment fell more than 6 percent in Monday’s trade after the Securities and Appellate Tribunal (SAT) refused to grant a stay of the order against Punit Goenka and Subash Chandra. Zee Entertainment stock opening price $207.20 per person mad cow diseasethe stock hit an intraday high $286.90 and the lowest price $172.25. After the news came out, the stock faced huge selling pressure.

Shares of Zee Entertainment fell more than 6 percent in Monday’s trade after the Securities and Appellate Tribunal (SAT) refused to grant a stay of the order against Punit Goenka and Subash Chandra. Zee Entertainment stock opening price $207.20 per person mad cow diseasethe stock hit an intraday high $286.90 and the lowest price $172.25. After the news came out, the stock faced huge selling pressure.

Zee Group Chairman Subhash Chandra Goenka and Zee Entertainment CEO Punit Goenka challenged Securities and Exchange Board of India (Sebi’s) decision to bar them from participating Indian market.

Zee Group Chairman Subhash Chandra Goenka and Zee Entertainment CEO Punit Goenka challenged Securities and Exchange Board of India (Sebi’s) decision to bar them from participating Indian market.

But a final decision on the dispute is still to be determined.

But a final decision on the dispute is still to be determined.

chairman Ethel Group On June 12, regulators banned him and his son Punit Goenka from holding any directorships or key management positions in any public company. capital market Regulator.

chairman Ethel Group On June 12, regulators banned him and his son Punit Goenka from holding any directorships or key management positions in any public company. capital market Regulator.

In a 16-page judgment, Sebi found that Subhash Chandra and Punit Goenka misappropriated funds for their own benefit while they were directors/KMPs of a public company.

In a 16-page judgment, Sebi found that Subhash Chandra and Punit Goenka misappropriated funds for their own benefit while they were directors/KMPs of a public company.

While refusing to overturn the regulator’s directive, the Securities Appeals Tribunal said it saw no reason to interfere with the decision and directed the parties to defend themselves before SEBI.

While refusing to overturn the regulator’s directive, the Securities Appeals Tribunal said it saw no reason to interfere with the decision and directed the parties to defend themselves before SEBI.

The decision comes as Zee and a regional unit of Sony Group Japan are set to announce a merger in 2021 to form a $10 billion television company, with Goenka serving as managing director and CEO of the combined company. However, permission from regulators is still pending.

The decision comes as Zee and a regional unit of Sony Group Japan are set to announce a merger in 2021 to form a $10 billion television company, with Goenka serving as managing director and CEO of the combined company. However, permission from regulators is still pending.

From a technical point of view, the stock price fell 8.9% last year, underperforming the industry by 21%. In Monday’s trading, the stock was down 28.87% from its 52-week high reached on October 6, 2022.

From a technical point of view, the stock price fell 8.9% last year, underperforming the industry by 21%. In Monday’s trading, the stock was down 28.87% from its 52-week high reached on October 6, 2022.

“Shares have rebounded strongly from lower levels last week and considering the weekly candlestick pattern, the price seems to have confirmed the short-term pattern. The 220 level extends towards the 200-day moving average, while the 190 level may act as a strong support. “

“Shares have rebounded strongly from lower levels last week and considering the weekly candlestick pattern, the price seems to have confirmed the short-term pattern. The 220 level extends towards the 200-day moving average, while the 190 level may act as a strong support. “

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