Mumbai: Traders created fresh bearish bets on Zee Entertainment Enterprises (ZEE) on Thursday as its shares tanked as much as 14% during the day on worries its impending merger with Sony could be delayed.
The stock cut a chunk of its losses before closing at ₹199.20, down 3.46% from the previous close.
UBS Securities (India) has maintained its buy rating and price target of ₹350 on the stock.
Prabhudas Lilladher retained its 'buy' rating but said the stock will witness selling pressure in the near term owing to concerns over delay in merger time-line.
The stock cut a chunk of its losses before closing at ₹199.20, down 3.46% from the previous close.
UBS Securities (India) has maintained its buy rating and price target of ₹350 on the stock.
Prabhudas Lilladher retained its 'buy' rating but said the stock will witness selling pressure in the near term owing to concerns over delay in merger time-line.
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