Zee Entertainment Shares Slip as Quant Mutual Fund Trims Stake

31 Aug 2023 , 03:42 PM

Zee Entertainment’s shares experienced a nearly 1 % decline in trading on August 31, following the news of Quant Mutual Fund reducing its stake in the media company. 

Quant Mutual Fund executed the stake reduction by selling 48.15 lakh equity shares of Zee Entertainment Enterprises via open market transactions. The shares were sold at an average price of Rs 266.61 per share, resulting in a total transaction value of approximately Rs 128.38 crore.

While the precise motives behind Quant Mutual Fund’s decision to offload the stake were not disclosed in the available information, such actions are part of standard investment practices where funds periodically adjust their portfolios to optimize returns and manage risk.  Zee Entertainment’s stock has delivered a commendable return of 36.07 % over the past six months, showcasing its strong performance in the market. In contrast, the benchmark Nifty50 index has yielded a return of 11.81 % during the same time frame, indicating the media company’s outperformance in the market.

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