Zee Entertainment Enterprises Ltd. saw its shares rise by 7.8%, the highest increase in over five weeks, after shareholders voted against the re-appointment of Punit Goenka, the founder’s son and CEO, as a board director. The company reported that 50.46% of the votes cast were against Goenka's reappointment, reflecting investor sentiment.
Zee Entertainment Enterprises Ltd (ZEEL) shares surged 5% to Rs 132.69 on November 29, following the rejection of Punit Goenka's reappointment as director by shareholders. In the annual general meeting, only 49.54% of votes supported the resolution, while 50.4% opposed it.
Zee Entertainment Enterprises Ltd (ZEEL) and its subsidiary faced a setback as an arbitral tribunal rejected their claims against RailTel. The dispute arose from the alleged wrongful termination of the Content on Demand Agreement, with ZEEL seeking compensation for amounts they claimed were wrongfully forfeited.
Shares of Zee Entertainment Enterprises Ltd (ZEEL) surged over 7% following Punit Goenka"s resignation as Managing Director, with his new role as Chief Executive Officer aimed at enhancing operational focus. The stock reached an intraday high of Rs 123.89 on the National Stock Exchange after the announcement.
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