|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||1,251.50 - 1,298.00|
|52-week range||763.20 - 1,298.00|
|Beta (5Y monthly)||1.33|
|PE ratio (TTM)||13.53|
|Earnings date||24 Apr 2023|
|Forward dividend & yield||14.00 (1.09%)|
|Ex-dividend date||02 Jun 2023|
|1y target est||2,112.73|
Zee Entertainment Enterprises Ltd and IndusInd Bank Ltd told an Indian tribunal on Wednesday that they have settled a dispute over a loan default, paving the way for the media company's merger with a local unit of Sony. IndusInd started bankruptcy proceedings against Zee Entertainment late last month over a default of 830.80 million rupees ($10.10 million). Zee Entertainment challenged the move in the National Company Law Appellate Tribunal (NCLAT), which put the insolvency proceedings on hold.
An Indian tribunal on Friday put on hold insolvency proceedings against Zee Entertainment Enterprises, a major relief for the Indian media company that warned the legal battle could delay its merger with a local unit of Japan's Sony. The bankruptcy proceedings were initiated after IndusInd Bank Ltd filed a petition against Zee Entertainment over a default of 830.80 million rupees ($10.04 million). The tribunal has put on hold the insolvency proceedings for the time being, saying the matter required detailed deliberations and will be next heard on March 29.
Indian shares closed near a seven-week high on Thursday, led by gains in metals and auto stocks, while strong results from IndusInd Bank lifted private lenders. The NSE Nifty 50 index and the S&P BSE Sensex rose 0.51% each to close at 16,605.25 and 55,681.95, respectively. "The return of foreign investors to domestic equity markets in the last few sessions, coupled with receding commodity prices and hopes the U.S. Fed may not go for aggressive rate hikes in its next meeting have somewhat tempered fears," said Shrikant Chouhan, head of equity research (retail), Kotak Securities.