Zee Entertainment stock surges ~8% as NSE issues new F&O contracts

28 Feb 2023 , 11:27 AM

In Tuesday’s intra-day trade on the BSE, shares of Zee Entertainment Enterprises (ZEEL) rose 8% to Rs197.7 after the National Stock Exchange (NSE) reversed its decision to exclude Zee Entertainment Enterprises from the futures and options segment.

The National Stock Exchange (NSE) disclosed that the circular released on February 23 that excluded F&O contracts from Zee has been retracted. The NSE further mentioned that, in addition to the current contracts with March and April 2023 expiry months, futures and options contracts with May 2023 expiry months will be accessible for trading from February 28, 2023.

The move comes after the National Company Law Appellate Tribunal (NCLAT) granted the media company interim relief on Friday by staying the bankruptcy proceedings against it.

Following the bankruptcy board’s decision to admit the media company to insolvency proceedings, the exchange issued a circular last week stating the decision to exclude the stock from the derivatives segment.

At around 11.16 AM, Zee Entertainment was trading 6.26% higher at Rs194.40, against the previous close of Rs182.95 on NSE. The counter touched an intraday high and low of Rs197.80 and Rs188.30 respectively.

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