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Zee Entertainment Enterprises (ZEE) share price rose over 2 percent intraday on December 18 after the company's board approved the acquisition of film production and distribution business from Zee Studios.
The company approved the acquisition of film production and distribution business as a going concern, on a slump sale basis from Zee Studios Limited (formerly known as Essel Vision Productions Limited), a wholly-owned subsidiary of the company, for a cash consideration of Rs 275 crore, the company said in the release.
At 11:56 hrs, Zee Entertainment Enterprises was quoting at Rs 227.20, up Rs 1.30, or 0.58 percent on the BSE.
The share touched its 52-week high Rs 304.70 and 52-week low Rs 114.00 on 27 December 2019 and 25 March 2020, respectively.
Currently, it is trading 25.43 percent below its 52-week high and 99.3 percent above its 52-week low.
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