Zee Ent is a 'hit'

Zee Entertainment is up in the green today morning, opening higher at Rs.280.50, from yesterday’s close of Rs.265.40. It hit an intra day high at Rs.282.70 and currently remains around 4% up.

The stock is reacting to the news which came in yesterday after market closure. Yesterday evening RBI notified the company that FIIs can now invest up to 100%, revised upwards from the earlier limit of 49% of the paid capital of Zee Entertainment under the portfolio investment scheme.

As at 31^st March 2014, promoters stake was at 43.07% , FIIs higher than promoters at 47.94% and DIIs held 3.43%.