New Delhi: Zee Media shares continued their impressive run on Monday, climbing to a new 52-week high of ₹22.79 per share on the National Stock Exchange (NSE). This marks a 75% surge in just six trading sessions, driven by optimism surrounding the company’s fundraising plans.
The stock opened the day with a strong uptick, reaching an intraday high of ₹22.79 before retreating slightly due to profit-taking. However, the overall trend remains bullish, reflecting investor confidence in Zee Media’s prospects.
Zee Media’s recent rally was fueled by the announcement of its proposed issuance of up to 13.33 crore warrants, convertible into equity shares at a price of ₹15 each. The company aims to raise up to ₹200 crore through this offering, subject to shareholder and regulatory approvals.
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Investors are particularly excited about the growth potential of Zee Media, which has seen its share price soar by nearly 90% in the past six months. The company’s strategic initiatives and strong financial performance have contributed to this remarkable increase.
As Zee Media continues to capitalize on favorable market conditions and execute its growth plans, analysts expect the stock to maintain its upward momentum in the coming months.
