Zee Entertainment shares jump 7% on Punit Goenka's resignation as MD

[{"selector":"#anim-f7c7dd83-1289-47b7-9f28-c6a541c2837f","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0c8e30cf-fc0e-476d-82f0-0f13439393c7","keyframes":{"transform":["translate3d(115.68628%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Shares of Zee Entertainment Enterprises Ltd (ZEEL) surged over 7 percent on Tuesday after Punit Goenka stepped down as Managing Director, while continuing as the company’s Chief Executive Officer (CEO).

[{"selector":"#anim-a173a418-373b-4d66-b8a7-71fa8b4ca5d8","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-dc3f8dbb-eaa7-43f4-8c6c-5f99e6b8c496","keyframes":{"transform":["translate3d(115.68628%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] In a regulatory filing, the company stated, "The Board has accepted the resignation of Punit Goenka as Managing Director of the company and appointed him as CEO."

[{"selector":"#anim-fdf3cccb-15d3-4e2c-9695-3b87e3844153","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-53eb7a98-a12f-4bdf-a5f5-233174ef7a7d","keyframes":{"transform":["translate3d(115.68628%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Following the announcement, ZEEL shares climbed 7.35 percent to hit an intraday high of Rs 123.89 on the National Stock Exchange (NSE). At around 10 am, the shares of the company were trading at Rs 123.56 apiece on the NSE, up 7.07 percent.

[{"selector":"#anim-3e94a550-9878-44e9-a3e7-397d3c03ca97","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-41de1d37-060a-44fb-ab8a-8615df04273d","keyframes":{"transform":["translate3d(115.68628%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] "With this step, he intends to dedicate his time entirely towards the future of the Company by enhancing its performance and profitability levels in line with the direction given by the Board/Nomination and Remuneration Committee in its meeting dated 15th November 2024."

[{"selector":"#anim-3ba5b98c-8125-453c-9da4-20bbf9c542eb","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-942d5af2-741e-498b-9c8a-110927eed21a","keyframes":{"transform":["translate3d(115.68628%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] On October 18, ZEEL declared its September quarter result, reporting a jump of 70.24 percent in its consolidated net profit to Rs 209.4 crore.

[{"selector":"#anim-f119207b-7da4-4860-b4ef-f920e99e99ae","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-de3252be-b445-4fde-b0de-83efb3fe36aa","keyframes":{"transform":["translate3d(115.68628%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with