ZEEL

L share price: Stock plunges over 14% after Sebi action; broadcaster says 'no direct bearing on fundraising exercise'

ZEEL share price: Shares of Zee Entertainment Enterprises (ZEEL) plunged 14.9 per cent to Rs 100.40 on the BSE on Monday, following SEBI's final order in the unauthorised immovable property pledge case. The capital markets regulator fined ZEEL Rs 30 lakh and banned the broadcaster from accessing the securities market for two months. The action follows SEBI's Friday order restraining ZEEL founder Subhash Chandra and CEO Punit Goenka from the securities market for one year each, alongside cumulative penalties totalling Rs 1.48 crore, for illegally pledging the company’s Hyderabad land to back loans for promoter-linked Essel Group entities. ZEEL Share Price Shares of ZEEL today opened at Rs 102.15 against the previous day close of Rs 115.45, on the BSE.