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<keyword id="19941210" type="General" weightage="20" keywordseo="Kangana-Ranaut" source="keywords">Kangana Ranaut</keyword>’s much-anticipated film Emergency, a biographical drama centered on former Prime Minister <keyword id="19913949" type="General" weightage="20" keywordseo="Indira-Gandhi" source="keywords">Indira Gandhi</keyword>, has been delayed due to a certification battle with the Central Board of Film Certification (CBFC). Initially slated for a September 6 release, the film has faced hurdles as the CBFC's revising committee suggested certain cuts before issuing a certificate. The <keyword id="19905533" type="General" weightage="20" keywordseo="Bombay-High-Court" source="keywords" meta.keywordsubtype="org" meta.entityname="Bombay High Court" meta.hostid="261" meta.entityid="Bombay High Court">Bombay High Court</keyword> is now involved, with further hearings scheduled, raising questions about when the film will finally hit theatres. <h2>The battle for certification</h2>On Thursday, the CBFC told the Bombay High Court that a certificate would be issued to Emergency only if the recommended cuts were made. Ranaut, who directed, co-produced, and stars as Indira Gandhi in the film, had accused the CBFC of intentionally delaying the film's release by withholding certification. She suggested that the delay was politically motivated, especially given the upcoming elections in states like Haryana. The film's co-producer, <keyword id="20068359" type="General" weightage="20" keywordseo="Zee-Entertainment" source="keywords">Zee Entertainment</keyword> Enterprises, took the matter to court, seeking a directive for the CBFC to issue the required certificate. The division bench of Justices B.P. Colabawalla and Firdosh Pooniwalla expressed frustration with the CBFC’s indecision. In a previous hearing, the court had remarked that the censor board cannot sit on a fence and has to take its decision one way or the other as it would otherwise amount to curtailing the freedom of speech and expression. In response to the court’s directive, CBFC’s counsel Abhinav Chandrachud explained, “The committee has suggested some cuts before a certificate can be issued and the movie can be released.” Senior counsel Sharan Jagtiani, representing Zee Entertainment, requested more time to decide whether these cuts could be accepted, with the court now awaiting a final decision in the next hearing scheduled for September 30. The delay in certification stems partly from objections raised by some <keyword id="23262146" type="General" weightage="20" keywordseo="Sikh-organisations" source="keywords">Sikh organisations</keyword>, including the Shiromani Akali Dal, accusing the film of misrepresenting their community and historical facts. This controversy has only added to the uncertainty surrounding the film’s release, as sensitive portrayals of political and historical events often attract close scrutiny in India. <h2><keyword id="23323607" type="General" weightage="20" keywordseo="political-motivations" source="keywords">Political motivations</keyword></h2>The controversy has led to speculation about political motivations, with Zee Entertainment alleging that the certificate was being withheld due to the upcoming elections in Haryana. This claim has raised eyebrows, given that Kangana Ranaut has been a vocal supporter of the Bharatiya Janata Party (BJP) and is herself a BJP MP. The court even wondered aloud why the ruling party would take issue with the film. Emergency was expected to be a major release, particularly due to its portrayal of one of the most significant and controversial periods in Indian political history — the 1975-1977 Emergency imposed by then-Prime Minister Indira Gandhi. However, the film’s release is now dependent on the outcome of the ongoing court proceedings and whether Kangana Ranaut and Zee Entertainment are willing to comply with the CBFC’s suggested edits. The CBFC’s recommended cuts have not been publicly disclosed, leaving many wondering what specific elements of the film are in dispute. With the next court hearing scheduled for September 30, it remains to be seen whether Emergency will make its way to theatres soon or face further delays. (With inputs from PTI)

What will it take for Kangana Ranaut’s 'Emergency' to finally hit theatres?

<keyword id="19976119" type="General" weightage="20" keywordseo="Zee" source="keywords">ZEE</keyword> Entertainment Enterprises Ltd and <keyword id="19914172" type="General" weightage="20" keywordseo="Sony" source="keywords">Sony</keyword> Pictures Networks India on Tuesday said they have settled their disputes related to the failed USD 10-billion merger and have agreed to withdraw all claims against each other. The settlement stems from a mutual understanding between the companies to independently pursue future growth opportunities with a renewed purpose and focus on the evolving media and entertainment landscape, signifying the definitive conclusion of all disputes, the two companies said in a joint statement. ZEE Entertainment Enterprises Ltd and Culver Max Entertainment Pvt. Ltd. (CMEPL) have arrived at a comprehensive non-cash settlement, amicably resolving all disputes related to the merger co-operation agreement and the composite scheme of arrangement, it said. Under the agreement, the companies have mutually agreed to withdraw all respective claims against each other, in the ongoing arbitration at the Singapore International Arbitration Centre (SIAC), and all related legal proceedings initiated in the National Company Law Tribunal (<keyword id="6355809" type="General" weightage="20" keywordseo="nclt" source="Orion">NCLT</keyword>) and other forums, it added. The companies will also withdraw the respective composite schemes of Arrangement from the NCLT and inform the relevant regulatory authorities. In January this year, Sony had pulled out from the proposed USD 10-billion merger with ZEE Entertainment Enterprises Ltd citing failure to meet certain "closing conditions" by the Indian firm. The deal collapsed after over two years of announcing it. Subsequently, the two parties went to the courts. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/apple-iphone-16-to-be-launched-on-september-9-heres-everything-we-know-so-far/articleshow/112828818.cms">Apple iPhone 16 to be launched on September 9 – here’s everything we know so far</a> <a href="https://www.businessinsider.in/stock-market/news/a-company-with-8-employees-looking-to-raise-12-crore-ended-up-getting-applications-worth-over-4700-crore/articleshow/112824522.cms">Delhi firm with just 8 employees seeks ₹12 crore via IPO, gets ₹4,700 crore worth of investor applications!</a> <a href="https://www.businessinsider.in/tech/news/telegram-comes-under-the-scanner-in-india-for-extortion-and-gambling-will-it-be-banned-in-india/articleshow/112807370.cms">Telegram comes under the scanner in India for extortion and gambling – will it be banned in India?</a>

Zee and Sony amicably settle disputes over their failed merger, withdraw claims

<ul><li>Culver Max Entertainment, terminated the two-year deal with <keyword id="19976119" type="General" weightage="20" keywordseo="zee" source="keywords">Zee</keyword> Entertainment on Monday.</li><li><keyword id="19914172" type="General" weightage="20" keywordseo="sony" source="keywords">Sony</keyword> is also seeking a $90 million termination fee from Zee, while the latter is refuting it and evaluating legal options.</li><li>Analysts downgraded the Zee stock as merger possibility was driving it for the last two years. </li></ul>The stock of <keyword id="20044563" type="General" weightage="20" keywordseo="zee-entertainment-enterprises" source="keywords">Zee Entertainment Enterprises</keyword> slumped by 32.7% on Tuesday, a day after Sony called off a merger deal with it. It was one of the top losers on Bombay Stock Exchange for the day. The bourses revised the lower circuit limit for the company to 35%. The stock closed at ₹155.9 per share by the end of the trading session. Culver Max Entertainment, formerly known as Sony Pictures Networks India, terminated the two-year deal with Zee Entertainment (ZEEL) of a possible merger on Monday. The merger could have created a $10 billion behemoth. Sony is also seeking a $90 million termination fee, which has led analysts to quickly downgrade the stock. “Merger with Sony was the key valuation driver to move up in the past two years. But given the termination, we downgrade Zee to ‘sell’,” says a report by Elara Capital. Troubles ahead? With the merger prospects gone, ZEEL valuation will slump back to its 2021 days, and brings back a lot of its earlier troubles to the fore. As per <a href="https://www.businesstoday.in/markets/stocks/story/troubles-mount-for-zee-punit-goenka-as-report-says-sebi-probe-reveals-up-to-rs-1000-cr-siphoned-414538-2024-01-23?utm_source=webengage&amp;utm_medium=mailer&amp;utm_campaign=newsletter&amp;utm_content=storypage">a CNBC TV18 report</a>, a probe by market regulator SEBI might spell even more trouble for the company. As per the SEBI report, Puneet Goenka, the CEO of the company might have siphoned as much as ₹800 crore from the company, as compared to the earlier reported figure of ₹200 crore. Added to that, analysts have also flagged off many issues around the company – both operational and governance-wise. In 2019, the company went through a promoter pledging crisis. After which, Zee promoters repaid loans with multiple stake sales that brought down its promoter shareholding from 42% to a mere 4%. Its earnings performance too has been dismal over the last two years. “Since the announcement of the merger, Zee’s profitability has eroded due to weak industry dynamics. For instance, on an absolute basis, Zee’s PAT slid around 48% over FY21–23,” said a report by CLSA. Ashwin Patil, Senior research analyst at LKP Securities expects more pain in the stock. "Zee is operationally facing a lot many challenges in the form of subdued advertising business, depleting viewership share in its key markets like Hindi GEC, Tamil and Marathi markets. The stock is seeing a free fall today and may see some buying post we see a further fall in it," he said. Zee, like most of its peers, might also face heavy competition from yet another mega media deal that’s in progress as per media reports. The Disney Hotstar merger with Reliance’s Viacom will threaten most players in the industry. “Meanwhile, Reliance’s Viacom and Disney+Hotstar deal shall get wrapped up soon. Both the entities together hold major cricket broadcasting rights such as IPL, ICC and other Indian bilateral cricket series. In our view, for Zee to be a serious player in sports and to scale up its OTT, it would need a financial partner,” said <keyword id="20055355" type="General" weightage="20" keywordseo="nuvama-institutional-equities" source="keywords">Nuvama Institutional Equities</keyword>.

Zee horror show: Stock slumps over 32% after merger with Sony is called off

New Delhi, Shares of <keyword id="19976119" type="General" weightage="20" keywordseo="zee" source="keywords">Zee</keyword> Entertainment Enterprises Ltd (ZEEL) tumbled 12 per cent in the mid-session trade on Wednesday amid reports that Sebi has found financial discrepancies in the accounts of the company. The stock of the company nosedived 11.58 per cent to Rs 170.65 apiece on the <keyword id="19895774" type="General" weightage="20" keywordseo="bse" source="keywords">BSE</keyword>. ZEEL shares plunged 11.39 per cent to Rs 170.70 per piece on the NSE. In the mid-session trade, the scrip also hit its lower circuit limit on the bourses. The 30-share BSE Sensex benchmark rose 90.17 points or 0.12 per cent to 73,147.57, while Nifty of the NSE rose 40.25 points to 22,237.20. As per the reports, during Sebi's probe into Zee's founders, the regulator discovered that approximately Rs 2,000 crore (equivalent to USD 241 million) may have been diverted from the company. However, the company spokesperson clarified that the reports related to accounting issues are "incorrect and false". The report suggested that the <keyword id="19901204" type="General" weightage="20" keywordseo="securities-and-exchange-board-of-india" source="keywords">Securities and Exchange Board of India</keyword> (Sebi) has been in conversation with senior officials at Zee, including its founders <keyword id="20115911" type="General" weightage="20" keywordseo="subhash-chandra" source="keywords">Subhash Chandra</keyword> and his son Punit Goenka, and some board members to explain their stance. Further, the report noted that the amount found missing is not final and may change after Sebi reviews the responses from the company executives. A ZEEL spokesperson said, "The reports and rumours pertaining to accounting issues in the company are incorrect and false. Pursuant to the Securities Appellate Tribunal (SAT) order, which granted relief to the current Key Managerial Personnel (KMP), the company has been in the process of providing all the comments, information or explanation requested by SEBI, and has extended complete co-operation on all aspects." On Tuesday, shares of ZEEL settled 8 per cent higher amid reports that Zee and Sony Pictures Networks (<keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>) are working to salvage their USD 10-billion merger. ZEEL shares have seen a massive downfall after the collapse of its merger with Sony Group Corp's India unit.

Zee Entertainment shares tumble 12%, hit lower circuit limit

<ul><li><keyword id="20068359" type="General" weightage="20" keywordseo="zee-entertainment" source="keywords">Zee Entertainment</keyword> has backed out from a $ 1.4 billion licensing agreement with <keyword id="19976118" type="General" weightage="20" keywordseo="disney-star" source="keywords">Disney Star</keyword> for the TV broadcast right for cricket matches.</li><li>This is reportedly a fallout of collapse of its merger deal with <keyword id="19914172" type="General" weightage="20" keywordseo="sony" source="keywords">Sony</keyword>.</li><li>Sony Corporation had on Monday announced the termination of the $ 10 billion merger.</li></ul> Zee Entertainment has backed out from a $ 1.4 billion licensing agreement with Disney Star for the TV broadcast right for cricket matches as a fallout of collapse of its merger deal with Sony, according to industry sources. Zee Entertainment Enterprises Ltd (<keyword id="20115912" type="General" weightage="20" keywordseo="zeel" source="keywords">ZEEL</keyword>), which has already missed the first instalment of around $ 200 million, will not move ahead, industry sources told PTI. The instalment to be paid to Disney Star was part of the $ 1.5 billion investment committed by Sony Group after its merger with ZEEL, said another industry source while confirming the development. Sony Corporation had on Monday announced the termination of the $ 10 billion merger agreement with ZEEL, while seeking $ 90 million for breach of conditions besides initiating arbitration. As per the merger agreement between ZEEL and Sony, the Japanese entity was supposed to invest $ 1.575 billion in the merged entity and have a majority stake. There were no immediate comments from ZEEL over the development. Three days after Sony called off the deal, ZEEL MD &amp; CEO <keyword id="20130441" type="General" weightage="20" keywordseo="punit-goenka" source="keywords">Punit Goenka</keyword> addressed a townhall meeting of around 3,000 employees across the globe, in which he asked them to move forward and chase new opportunities. "Our industry is witnessing rapid changes, and these winds of change are giving us a new shape. We have to mould ourselves to be well-positioned in order to capitalise on the opportunities coming our way. We have been leaders over the last 3 decades and have delivered value to our stakeholders, year on year," he said. On August 30, 2022, ZEEL had announced entering into a strategic licensing agreement with Disney Star for television broadcasting rights of the ICC Men's and Under-19 global events for a period of four years. Disney Star will continue to exclusively stream all ICC tournaments through its digital platform Disney+ Hotstar, a joint statement had said. This was done with the in-principle approval from the International Cricket Council (ICC). Disney Star bagged the broadcast rights of all ICC events for four years from 2024 to 2027 for the Indian market from the sport's global governing body. As per the agreement, ZEEL was supposed to have exclusive television rights for ICC men's events, including the ICC Men's T20 World Cup, which will be played in 2024 and 2026, ICC Men's Champions Trophy (2025), and the ICC Men's Cricket World Cup (2027), along with key ICC U-19 events, it said. ZEEL on Wednesday approached the National Company Law Tribunal (NCLT) to get Sony to honour a $ 10 billion merger deal. Sony had resisted the demand by Subhash Chandra's son Punit Goenka, who was investigated by Sebi over fraud allegations, to stay on after the merger. It has also initiated appropriate legal actions to contest the claims of $ 90 million (Rs 748.5 crore) filed by Sony Group before the Singapore International Arbitration Centre (SIAC). SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/webstories/oneplus-12-vs-oneplus-12r-heres-whats-different-between-the-two-devices/slidelist/107138750.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/oneplus-12-vs-oneplus-12r-heres-whats-different-between-the-two-devices/slidelist/107138750.cms" target="_blank">OnePlus 12 vs OnePlus 12R – What distinguishes the two new smartphones</a> <a href="https://www.businessinsider.in/business/auto/news/rolls-royce-spectre-rolls-out-as-indias-most-expensive-electric-car/articleshow/107051636.cms">Rolls Royce Spectre rolls out as India’s most expensive electric car</a> <a href="https://www.businessinsider.in/tech/news/global-pc-shipments-decline-for-the-eighth-straight-quarter-hopes-pinned-on-ai-to-drive-sales/articleshow/106981182.cms">Global PC shipments decline for the eighth straight quarter; hopes pinned on AI to drive sales</a>

Zee Entertainment backs out from $1.4 bn deal with Disney Star

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<ul><li>Shares of Zee Entertainment have rallied 21% in the last one month and outperformed the benchmark index that gained 11%.</li><li>Analysts believe that the strong box office collection of movie “The Kashmir Files” and expectation of significant opportunities from the Zee-Sony merger has fuelled the stock.</li><li>Moreover, there are hopes that the company’s revenue will cross ₹10,000 crore in next two fiscal years.</li></ul>Things are finally falling in place for investors of Zee Entertainment Enterprises as shares of the company rallied sharply in the last one month and even outperformed the benchmark index. Shares of Zee Entertainment rallied 21% in the last one month outpacing the benchmark index Sensex that gained 11%. It seems like a rather fresh start for investors that literally made no money in the last five years of investment in this stock as shares of the company lost value by 45%. It was only after September 2021 that the stock picked up with reports of <a href="https://www.businessinsider.in/business/corporates/news/zee-entertainment-merges-with-sony-pictures/articleshow/86416420.cms#:~:text=Media%20company%20Zee%20Entertainment%20announced,to%2040%25%20since%20last%20week.">Sony-Zee merger.</a> The combined entity is likely to emerge as a strong player in both television (TV) and over-the-top (OTT) business by leveraging their ability to create content across genres and regional markets. The merger has made the new entity one of the largest entertainment groups in the country. The combined entity is expected to make its mark in both TV and OTT business and create content across genres and regional markets. “The merger is expected to strengthen ZEEL’s [Zee Entertainment Enterprises Limited] portfolio with Sony’s sport, kids, and English movie content. The combined entity will be in a superior position on maximising its revenue across platforms, including OTT, given its wider content choices, investments on digital, aggressive bidding for sports rights, and focus on leveraging Sony Group’s deep capability in gaming and presence in international markets,” said analysts at Sharekhan. Financial estimates for coming years after Zee-Sony merger <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22 estimate </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY23 estimate </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY24 estimate </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹7,729 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹8,087 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹9,277 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹10,070 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adjusted profit after tax </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,122 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,232 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,560 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,731 crore </td></tr></tbody><tbody></tbody><tbody></tbody></table>(Source: Sharekhan Research) Analysts expect the company’s revenue to cross 10,000 crore in next two fiscal years. Another reason that cheered investors was the huge success of the movie ‘The Kashmir Files’ produced by Zee Studios, a subsidiary of Zee Entertainment. The film, featuring Anupam Kher, Mithun Chakraborty and Pallavi Joshi, made more than ₹100 crore. Along with it, the hit Tamil movie ‘Valimai’ also added money to the kitty. Analysts at Sharekhan say that strong box office collections of ‘The Kashmir Files’ and ‘Valimai’ would drive revenue of other operating sales. They forecast Zee’s overall revenue to grow by 12.2% year-on-year in the fourth quarter of FY22. Recent share sale by its largest investor Invesco brought some turbulence to the company’s stock. Invesco recently offloaded up to 8% of its stake in the company through the block deal on April 7, 2022. Invesco stated that the purpose of the sale is to only align its fund exposures to Zee with other funds managed by the investment team. 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Zee Entertainment rallies sharply in one month on strong box office collection of ‘The Kashmir Files’ and on high hopes from Zee-Sony merger

<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> fell in the first half of trading on Tuesday after a flat opening in the morning. </li><li>Dragging the indices down were FMCG, oil &amp; gas and metal stocks. </li><li><keyword id="90570" type="General" weightage="20" keywordseo="sgx-nifty" source="Orion">SGX Nifty</keyword>, an early indicator of how the markets may perform, was up 0.05% or 9 points early in the morning today.</li></ul>India’s benchmark indices Sensex and <keyword id="6354813" type="General" weightage="20" keywordseo="nifty" source="Orion">Nifty</keyword>50 fell in the first half of trading on Tuesday after a flat opening in the morning. Dragging the indices down were FMCG, oil &amp; gas and metal stocks. SGX Nifty, an early indicator of how the markets may perform, was up 0.05% or 9 points early in the morning today. While the 30-stock Sensex was down 0.2% or 120 points to 59,167, the 50-stock Nifty50 was down 0.2% or 36 points to 17,357 halfway through the day today. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.97% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.43% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports &amp; SEZ </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.52% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.27% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.54% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.87% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.46% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ITC </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.77% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.35% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharat Petroleum </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.56% </td></tr></tbody></table> Source: NSE, February 28, 2023 Earlier on Monday, the markets saw volatile movement, closing the day in the red. While Sensex fell 0.3% to 59,288 points, Nifty50 declined 0.42% to 17,393 points. Most of the sectoral indices ended the day in red, with IT, metal and auto stocks falling the most. Worries of more rate hikes by the US Fed led to a decline in oil futures, with the Brent crude falling to $82 per barrel. <cmsannotation type="cmsannotation" annotationid="Global markets show positivity" comment="subhead" text="Global markets show positivity">Global markets show positivity</cmsannotation> Markets in the US closed in the green on Monday as buyers hunted for bargain purchases. The Dow Jones Industrial Average gained 0.22% while S&amp;P 500 closed 0.31% higher. The tech-heavy Nasdaq closed 0.63% in the green. In Asia, most markets were in the green on Tuesday morning, led by KOSPI at 0.9% and followed by Hang Seng at 0.59%. Nikkei 225 gained 0.43% while Shanghai Composite was up 0.15%. Taiwan Weighted, on the other hand, was down 0.72%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> <keyword id="6358032" type="General" weightage="20" keywordseo="spicejet" source="Orion">SpiceJet</keyword>: Carlyle Aviation Partners will acquire 7.5% stake in the airline to reduce debt by $100 million by converting outstanding dues and snap up shareholding in the cargo business. In addition, the airline will also tap the qualified institutional buyer (QIB) route to raise up to ₹25,000 crore. <keyword id="1553175" type="General" weightage="20" keywordseo="vodafone-idea" source="Orion">Vodafone Idea</keyword>: Shareholders of debt-ridden telco have approved the preferential issuance of up to ₹1,600 crore of optionally convertible debentures to vendor American Tower Corp. Dr Reddy’s Laboratories: The pharma company is planning to buy Mayne Pharma’s US generic prescription product portfolio for $105 million. For this, it will acquire the portfolio for an upfront payment of $90 million in cash, contingent payment of up to $15 million. Bharti Airtel: The company’s chairman Sunil Bharti Mittal said at the Mobile World Congress in Barcelona that he is hopeful of telecom tariffs being hiked by the middle of this year. The returns on capital in telecom business is very low, which is why the rate hike is expected this mid year. <keyword id="51166" type="General" weightage="20" keywordseo="zee-entertainment" source="Orion">Zee Entertainment</keyword>: Amid the insolvency proceedings in NCLAT, the NSE said that the company may move out of the OBC framework and the corresponding surveillance actions on it will be reverted. Also, the F&amp;O contracts for May 2023 expiry will be available for trading from February 28. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/passenger-vehicles-to-continue-driving-auto-sales-in-february-evs-gain-a-stronghold/articleshow/98272857.cms">Passenger vehicles to continue driving auto sales in February, EVs gain a stronghold</a> <a href="https://www.businessinsider.in/business/corporates/news/spicejet-to-raise-2500-crore-fresh-capital-convert-carlyles-debt-into-equity-and-demerge-cargo-biz/articleshow/98270557.cms">SpiceJet to raise ₹2,500 crore fresh capital, convert Carlyle’s debt into equity and demerge cargo biz</a> <a href="https://www.businessinsider.in/business/corporates/news/stock-price-run-up-in-paytm-nykaa-zomato-pb-fintech-delhivery-could-see-large-shareholders-cashing-out-bofa/articleshow/98274102.cms">Stock price run up in Paytm, Nykaa, Zomato, PB Fintech &amp; Delhivery could see large shareholders cashing out - BofA</a>

Sensex, Nifty50 fall amid increased volatility: FMCG, oil & gas, metal stocks drag indices down

<ul><li>The <keyword id="6484188" type="General" weightage="100" keywordseo="sensex" source="Orion">Sensex</keyword> closed 0.99% or 600 points higher at 61,032 while the <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> ended 0.89% or 159 points higher at 17,929.</li><li>Meanwhile, all eyes were on the US inflation data to be released later today that would determine the course of interest rate hikes.</li><li>Adding to the cheer was inflows from foreign institutional investors (FIIs) in the last couple of days.</li><li>Most sectoral indices ended higher on Tuesday with FMCG, Metal, PSU bank and IT among top gainers.</li></ul>India’s benchmark indices Sensex and Nifty50 ended higher on Tuesday led by gains in shares of index heavyweight Reliance Industries, Adani companies and ITC amid positive global cues. Meanwhile, all eyes were on the US inflation data to be released later today, which would determine the course of interest rate hikes. Adding to the cheer was inflows from foreign institutional investors (FIIs) in the last couple of days. “Domestic indices edged higher, inspired by their global counterparts, as investors await the US inflation numbers today. The whammy over India’s retail inflation breaching the RBI’s tolerance level was cooled by WPI inflation easing to 4.73% in January. IT stocks were in focus as investors anticipated a slowdown in US inflation, which could result in favourable Fed policy,” said Vinod Nair, head of research at Geojit Financial Services. The Sensex closed slightly above 61,000 – at 61,032, up 0.99% or 600 points while the Nifty50 ended 0.89%, or 159 points, higher at 17,929. <keyword id="118623" type="General" weightage="80" keywordseo="adani-enterprises" source="Orion">Adani Enterprises</keyword> was among the top five gainers on the Nifty50 after the Gautam Adani-led flagship company reported a net profit of ₹820 crore for the December quarter compared with ₹12 crore loss last year. Top movers on the Nifty50 <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.61% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apollo Hospitals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.45% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ITC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.14% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.23% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">RIL </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.44% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI Life Insurance </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.54% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.88% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BPCL </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.16% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports &amp; SEZ </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.86% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Grasim Industries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.15% </td></tr></tbody><tbody><tr id="last-child" class="last-child"><td contenteditable="false" colspan="5">Edit</td></tr></tbody></table> On Monday both foreign institutional investors (FIIs) and domestic institutional investors (DIIs) were net buyers – while FIIs bought equities worth ₹ 1,322 crore, DIIs invested ₹522 crore. US markets edge higher Ahead of the release of the key inflation data on Tuesday, US markets rose sharply. The Dow Jones Industrial Average ended up 1.11% on Monday, while S&amp;P 500 closed 1.14% higher. The tech-heavy Nasdaq closed 1.48% higher. Asian markets were largely positive on Tuesday morning, led by the Taiwan TSEC 50 Index that was up 0.71%. Nikkei 225 was up 0.64%, KOSPI gained 0.53%, Shanghai Composite was up 0.28% while the Hang Seng was down 0.24%. Most sectoral indices ended higher on Tuesday with FMCG, Metal, PSU bank and IT among top gainers. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sectoral indices </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty PSU Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.04% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty FMCG </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.03% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Metal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.02% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty IT </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.99% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Fin Service </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.90% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.89% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Pvt Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.77% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Media </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.16% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Pharma </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.16% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Auto </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.36% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Realty </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.84% </td></tr></tbody><tbody><tr id="last-child" class="last-child"><td contenteditable="false" colspan="3">Edit</td></tr></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/india-a-long-term-investment-destination-even-among-g-20-countries/articleshow/97875443.cms">India a long-term investment destination even among G-20 countries</a> <a href="https://www.businessinsider.in/stock-market/news/fpis-offload-equities-worth-28851-crore-in-january-in-financial-services-oil-gas-stocks/articleshow/97862620.cms">FPIs offload equities worth ₹28,851 crore in January – financial services, oil &amp; gas stocks account for 79% of it</a> <a href="https://www.businessinsider.in/stock-market/news/adani-group-stock-prices-fall-on-monday-after-moodys-cuts-outlook/articleshow/97855581.cms">Adani Group stocks battered on Monday after Moody’s cuts outlook for four companies</a>

Sensex closes above 61,000 mark ahead of US inflation data led by gains in RIL, Adani stocks, ITC

<ul><li><keyword id="3186877" type="General" weightage="20" keywordseo="sony-pictures-networks-india" source="Orion">Sony Pictures Networks India</keyword> (SPNI) and <keyword id="174248" type="General" weightage="20" keywordseo="zee-entertainment-enterprises-ltd" source="Orion">Zee Entertainment Enterprises Ltd</keyword>. (ZEEL) have entered into an exclusive, non-binding Term Sheet to combine both companies’ linear networks, digital assets, production operations and program libraries. </li><li>The combined company would be a publicly listed company in India and be better positioned to lead the consumer transition from traditional pay TV into the digital future.</li></ul>Sony Pictures Networks India (SPNI) and Zee Entertainment Enterprises Ltd. (ZEEL) have entered into an exclusive, non-binding Term Sheet to combine both companies’ linear networks, digital assets, production operations and program libraries. The non-binding Term Sheet provides an exclusive negotiation period of 90 days during which ZEEL and SPNI will conduct mutual diligence and negotiate definitive, binding agreements. The combined company would be a publicly listed company in India and be better positioned to lead the consumer transition from traditional pay TV into the digital future. The <keyword id="42411" type="General" weightage="20" keywordseo="merger" source="Orion">merger</keyword> of ZEEL and SPNI would bring together two leading Indian media network businesses, benefitting consumers throughout India across content genres, from film to sports. The combined company is expected to benefit all stakeholders given strong synergies between ZEEL and SPNI. Under the terms of the non-binding Term Sheet, Sony Pictures Entertainment, the parent company of SPNI, would invest growth capital so that SPNI has a cash balance of approximately USD $1.575 billion at closing for use to enhance the combined company’s digital platforms across technology and content, ability to bid for broadcasting rights in the fast-growing sports landscape and pursue other growth opportunities. Sony Pictures Entertainment would hold a majority stake in the combined company. Current ZEEL Managing Director &amp; CEO <keyword id="599253" type="General" weightage="20" keywordseo="punit-goenka" source="Orion">Punit Goenka</keyword> is to lead the combined company. The combined company’s board of directors would include directors nominated by <keyword id="1192557" type="General" weightage="20" keywordseo="sony-group" source="Orion">Sony Group</keyword> and result in Sony Group having the right to nominate the majority of the board members. It is anticipated that a final transaction would be subject to completion of customary due diligence, negotiation, and execution of definitive binding agreements, and required corporate, regulatory and third-party approvals, including ZEEL shareholder vote.

Sony Pictures Networks India and Zee Entertainment announce merger

<ul><li>The deal, announced in September last year, has received the <keyword id="139820" type="General" weightage="80" keywordseo="competition-commission" source="Orion">Competition Commission</keyword> of <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>'s nod. </li><li>The deal remains subject to applicable regulatory and other approvals, <keyword id="353090" type="General" weightage="80" keywordseo="zeel" source="Orion">ZEEL</keyword> said.</li><li>The combined entity will own over 70 TV channels, 2 video streaming services (ZEE5 and <keyword id="6358540" type="General" weightage="100" keywordseo="sony" source="Orion">Sony</keyword> LIV) and two film studios (<keyword id="3415325" type="General" weightage="50" keywordseo="zee-studios" source="Orion">Zee Studios</keyword> and Sony Pictures Films India). </li></ul> The Competition Commission on Tuesday gave its conditional approval to the mega-merger deal between Sony and <keyword id="6372205" type="General" weightage="80" keywordseo="zee" source="Orion">Zee</keyword> that will create one of the largest media groups in the country. The deal, announced in September last year, has received the Competition Commission of India's nod after the regulator accepted "voluntary remedies" proposed by the parties, sources close to the development said. In a tweet, the watchdog said it has cleared the deal with certain modifications. CCI said it has approved the "amalgamation of <keyword id="1417408" type="General" weightage="50" keywordseo="zee-entertainment-enterprises-limited" source="Orion">Zee Entertainment Enterprises Limited</keyword> (ZEEL) and Bangla Entertainment Private Limited (BEPL) with Culver Max Entertainment Private Limited (<keyword id="55015" type="General" weightage="80" keywordseo="cme" source="Orion">CME</keyword>), with certain modifications". Details about the proposed modifications could not be immediately ascertained. CCI had issued show cause notices to the parties after it initially concluded that the deal could have an adverse impact on competition, the sources said. Subsequently, the parties proposed voluntary remedies, which have been accepted by the regulator, they added. ZEEL said CCI has granted the approval in phase-1 after evaluating the official legal and economic submissions made by the company. Most of the deals get cleared by CCI in phase-1 and only if there are serious concerns then the deal concerned is put up for public scrutiny under phase 2. "Considering the immense value which the proposed merger will generate for all its stakeholders, the company has offered the necessary remedies in accordance with the regulator's guidelines," ZEEL said, adding that further details are awaited. On September 7, the National Company Law Tribunal (NCLT) had advised the company to convene and conduct the meeting with its shareholders on October 14 to seek their approval for the proposed merger. The deal remains subject to applicable regulatory and other approvals, ZEEL said. In a separate statement, Sony Pictures Networks India said it is delighted to receive CCI approval for the merger. "We will now await remaining regulatory approvals to finally launch the new merged company. The merged company will create extraordinary value for Indian consumers and eventually lead the consumer transition from traditional pay TV into the digital future," it said. Culver Max Entertainment Private Limited was earlier known as Sony Pictures Networks India Pvt Ltd. Deals beyond certain thresholds require the approval of CCI, which keeps a tab on unfair business practices and also promotes fair competition in the marketplace. Both parties had entered into a definitive agreement for the deal in December last year and the proposed merger has already received approval from stock exchanges NSE and BSE. ZEEL, in September 2021, said it has entered into a non-binding term sheet with SPNI to bring together their linear networks, digital assets, production operations and programme libraries. The combined entity will own over 70 TV channels, 2 video streaming services (ZEE5 and Sony LIV) and two film studios (Zee Studios and Sony Pictures Films India), making it the largest entertainment network in India, ZEEL said in September last year. Under the deal, there will be amalgamation of ZEE and BEPL with CME. Besides, preferential allotment of certain shares will be made by CME to Sunbright International Holdings Limited, earlier known as Essel Holdings Limited, and Sunbright Mauritius Investments Limited, according to a release issued by CCI. CME is an indirect wholly-owned subsidiary of Sony Group Corporation (SGC). CME has several general entertainment channels, film, sports and kids' entertainment channels in India. SonyLIV is CME's digital entertainment video service which provides OTT services in India and international markets. CME reaches out to over 700 million viewers in India and is available in 167 countries. BEPL is an indirect wholly-owned subsidiary of SGC and a part of the SGC Group. It is broadly engaged in the acquisition of rights for motion pictures, events and other TV cont ent; and in generating advertising revenue from the telecast of TV content. ZEE is a media and entertainment company, with presence across the segments of broadcasting, digital content, movies, music and live entertainment, spread over 190 countries, as per the release. ZEE5 is the company's digital entertainment video service which provides OTT services in India and international markets. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/reliance-jio-to-begin-beta-trial-of-5g-in-four-cities-on-dussehra-with-unlimited-data/articleshow/94645577.cms">Reliance Jio to begin beta trial of 5G in four cities on Dussehra with unlimited data</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/with-950-billionaires-asia-outnumbers-all-other-regions-forbes/articleshow/94644883.cms">With 950 billionaires, Asia outnumbers all other regions: Forbes</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/15-ott-releases-to-watch-this-festive-season-starring-madhuri-dixit-hasan-minhaj-and-more/articleshow/94640843.cms">15 OTT releases to watch this festive season starring Madhuri Dixit, Hasan Minhaj and more</a>

Competition Commission gives conditional approval to Sony-Zee merger deal

<ul><li><keyword id="3441386" type="General" weightage="20" keywordseo="sony-pictures-networks-india-private-limited" source="Orion">Sony Pictures Networks India Private Limited</keyword> (SPNI) and Zee Entertainment Enterprises Ltd have entered a definitive agreement to merge ZEEL with and into SPNI and combine their linear networks, digital assets, production operations and program libraries.</li><li><keyword id="599253" type="General" weightage="20" keywordseo="punit-goenka" source="Orion">Punit Goenka</keyword> will lead the combined company as its Managing Director &amp; CEO. </li><li>The majority of the board of directors of the combined company will be nominated by the Sony Group and will include the current SPNI Managing Director and CEO, NP Singh.</li></ul>Sony Pictures Networks India Private Limited (SPNI) and <keyword id="381258" type="General" weightage="20" keywordseo="zee-entertainment-enterprises-ltd-" source="Orion">Zee Entertainment Enterprises Ltd.</keyword> (ZEEL) today announced that they have signed definitive agreements to merge ZEEL with and into SPNI and combine their linear networks, digital assets, production operations and program libraries. The agreements follow the conclusion of an exclusive negotiation period during which ZEEL and SPNI conducted mutual due diligence. After closing, the new combined company will be publicly listed in India. The closing of the transaction is subject to certain customary closing conditions, including regulatory, shareholder, and third-party approvals. Under the terms of the definitive agreements, SPNI will have cash balance of USD $1.5 Bn (assuming an INR:USD exchange rate of 75:1) at closing, including through infusion by the current shareholders of SPNI and the promoters (founders) of ZEEL, to enable the combined company to drive sharper content creation across platforms, strengthen its footprint in the rapidly evolving digital ecosystem, bid for media rights in the fast-growing sports landscape and pursue other growth opportunities. SPNI is an indirect subsidiary of Sony Pictures Entertainment Inc. (SPE). Under the transactions contemplated by a non-compete agreement, SPE, through a subsidiary, will pay a non-compete fee to certain promoters (founders) of ZEEL, which will be used by such promoters (founders) to infuse primary equity capital into SPNI, entitling the promoters (founders) of ZEEL to acquire shares of SPNI, which would eventually equal approximately 2.11% of the shares of the combined company on a post-closing basis. After the closing, SPE will indirectly hold a majority 50.86% of the combined company, the promoters (founders) of ZEEL will hold 3.99%, and the other ZEEL shareholders will hold a 45.15% stake. Punit Goenka will lead the combined company as its Managing Director &amp; CEO. The majority of the board of directors of the combined company will be nominated by the Sony Group and will include the current SPNI Managing Director and CEO, NP Singh. On closing, Singh will assume a broader executive position at SPE as Chairman, <keyword id="833633" type="General" weightage="20" keywordseo="sony-pictures-india" source="Orion">Sony Pictures India</keyword> (a division of SPE) reporting to Mr. <keyword id="212528" type="General" weightage="20" keywordseo="ravi-ahuja" source="Orion">Ravi Ahuja</keyword>, SPE’s Chairman of Global Television Studios and SPE Corporate Development. The combination of ZEEL and SPNI is expected to achieve business synergies and given their relative strengths in scripted, factual and sports programming, respective distribution footprints across India and iconic entertainment brands, the combined company should be well-positioned to meet the growing consumer demand for premium content across entertainment touchpoints and platforms. The seamless blend of rich expertise in content creation, deep consumer insights and success across entertainment genres is expected to drive the combined company’s ability to accrue higher shareholder value. Under the stewardship of the Sony Group, a global leader in consumer technologies, gaming and entertainment, the combined company is expected to be able to better compete with the world’s largest streaming players. As part of the definitive agreements, the promoters (founders) of ZEEL have agreed to limit the equity that they may own in the combined company to 20% of its outstanding shares. This construct does not provide the promoters (founders) of ZEEL any pre-emptive or other rights to acquire equity of the combined company from the Sony Group, the combined company or any other party. Any shares purchased by the promoters (founders) of ZEEL, must be in compliance with all applicable laws including any pricing guidelines. Commenting on this development, Punit Goenka, MD &amp; CEO, ZEE Entertainment Enterprises Ltd. said, “It is a significant milestone for all of us, as two leading media &amp; entertainment companies join hands to drive the next era of entertainment filled with immense opportunities. The combined company will create a comprehensive entertainment business, enabling us to serve our consumers with wider content choices across platforms. I am immensely grateful to the teams at ZEEL, SPE and SPNI for their efforts, that swiftly led us to this point within the stipulated timelines. This <keyword id="42411" type="General" weightage="20" keywordseo="merger" source="Orion">merger</keyword> presents a significant opportunity to jointly take the businesses to the next level and drive substantial growth in the global arena. I look forward to working with the guidance of the esteemed members of the combined company’s board to unlock the potential of this merger, and I wish <keyword id="1436102" type="General" weightage="20" keywordseo="n-p-singh" source="Orion">N.P. Singh</keyword> all the best in his new role at SPE. His contribution to the Indian media &amp; entertainment industry has been invaluable. I am most certain that our collective wisdom, rich experience and expertise will lead to a more value accretive and exciting company for our shareholders and employees, and a more engaging one for our customers and partners.” “Today marks an important step in our efforts to bring together some of the strongest leadership teams, content creators, and film libraries in the media business to create extraordinary entertainment and value for Indian consumers,” said Ravi Ahuja, SPE’s Chairman of Global Television Studios and SPE Corporate Development. “I want to thank Punit and his team at ZEEL and the small army of people at SPE and SPNI who have worked so hard to get us to this point. I especially want to thank NP Singh, who presented us with the idea to explore this merger well over a year ago. N.P. has done extraordinary work building SPNI to what it is today, and we look forward to continuing our work with him in his new role after closing.” MD &amp; CEO, SPNI, N.P. Singh, added, “This merger will create a company that’s best in class and will redefine the contours of the media and entertainment industry. As a representative of SPE on the Board of the new merged company, it will be my endeavour to provide strategic guidance and support to the company’s operating team in achieving our vision. I am also excited at the opportunity of being appointed, Chairman, Sony Pictures India, to oversee SPE’s investments and craft a wider footprint for Sony in India.” SPE was advised on this transaction by Morgan Stanley, KPMG Corporate Finance, and Shardul Amarchand Mangaldas &amp; Co. ZEEL was advised by KPMG, JP Morgan, Trilegal and Boston Consulting Group.

You Searched For "Zee Entertainment and Enterprises Ltd" and got 13 results

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Sony Pictures Networks India and Zee Entertainment announce merger

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Sony and Zee Entertainment sign definitive agreements to merge, Punit Goenka to lead combined company as MD & CEO

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