Zee Entertainment stock jumps 7% as SAT provides conditional relief in SEBI matter
Shares of Zee Entertainment climbed as much as 7% on Friday following a conditional reprieve from the SAT regarding its ongoing SEBI case, which clears the way for the company's capital-raising efforts. Under the ruling, Zee and its CEO Punit Goenka are permitted to allot fully convertible warrants to a promoter-affiliated entity, provided they pay the entire penalty amount within seven days. While the SAT has pushed back the deadline for the warrants by one week, other existing market limitations on the company remain in effect.
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