Mumbai (Maharashtra) [India], December 26: Shares of Zee Media Corporation experienced a notable uptick of nearly 2% on Friday, December 26, fueled by a significant acquisition by AUV Innovations LLP, an institutional investor based in Mumbai and a part of the promoter group. This strategic purchase, made through open market transactions, has ignited investor confidence in the media company’s stock, as such buying activities from promoters or Domestic Institutional Investors (DIIs) are widely interpreted as a strong endorsement of the company’s prospects.
According to an official exchange filing dated December 24, AUV Innovations LLP substantially increased its holdings by acquiring 1,51,15,614 shares, representing a 2.42% stake in Zee Media Corporation. This acquisition has consequently elevated their total shareholding in the media company from 6.99% to an impressive 9.41%. Prior to this transaction, AUV Innovations held 4,37,18,761 shares, a figure that has now climbed to 5,88,34,375 shares post-completion of the deal.
Zee Media Corporation stands as a prominent Indian media house, boasting a diverse portfolio of channels that deliver comprehensive global, national, and regional news coverage. Complementing its broadcast offerings, the company’s digital platform, Zeenews.com, effectively engages a vast audience across various languages. The flagship Hindi news channel, Zee News, continues to be a strong performer, bolstered by impactful initiatives such as the “Zee Real Heroes Awards” and the “Unveiling India Quiz.” In the business news sector, Zee Business leads the Hindi segment and has introduced engaging content like the “Kona Kona Investor” series. Furthermore, the company’s regional channels, including Zee Kalak, Zee Bihar Jharkhand, Zee Rajasthan, Zee Madhya Pradesh Chhattisgarh, Zee Delhi NCR Haryana, and Salaam TV, consistently secure top positions in their respective markets, underscoring Zee Media’s extensive and influential reach throughout India.
Disclaimer: This article is for informational purposes only and does not constitute financial advice.
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