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NSE removes Zee Entertainment from futures and options segment with effect from June 28
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
Zee Entertainment shares have almost halved so far this year following the collapse of its $10 billion merger with Sony Pictures Networks India. The stock has fallen nearly 30% over the last 12 months.
The National Stock Exchange (NSE) has said that Zee Entertainment Enterprises Ltd. (ZEEL) contracts will not be available for trading in the futures and options (F&O) segment with effect from June 28.
Issuing a circular on Tuesday (April 16), the exchange said that existing unexpired contracts with expiry months of April, May, and June will continue to be available for trading until their respective expiry dates and new strikes will be introduced in the existing contract months.
In February 2023, the exchange had excluded ZEEL from the F&O segment after the National Company Law Tribunal (NCLT) admitted an insolvency plea filed by IndusInd Bank against the company.
However, NSE later reversed its decision after the NCLT granted interim relief to the media company by staying the bankruptcy proceedings against it.
Shares of Zee Entertainment have almost halved so far this year following the collapse of its $10 billion merger with Sony Pictures Networks India. The stock has fallen nearly 30% over the last 12 months.
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