Zee Entertainment down 3% after promoters sell stake

Shares of Zee Entertainment Enterprises fell more than 3 percent intraday on April 2 after promoters of the media organisation relinquished stake worth Rs 332 crore in recent months.

According to exchange disclosures, promoter entity Cyquator Media Services relinquished Rs 227 crore worth of shares between February 13 and March 29, while Essel Corporation sold shares worth Rs 105 crore between March 13 and March 25.

Post the share sale, the stake of Cyquator Media Services reduced to 22.8 percent from 23.36 percent, while Essel Corporate's shareholding went down to 3.04 percent from 3.28 percent.

At 0918 hours, Zee Entertainment Enterprises was quoting Rs 416, down 3.47 percent on the BSE.