The Zee CEO has a plan to fix the media company’s plummeting profits and a stock in freefall. Will he be around to see it through?
On 27 March, news agency Press Trust of India put out a report saying one of Parag Parikh Financial Advisory Services Asset Management’s mutual funds had bought over 6.2 million shares of Zee Entertainment Enterprises for Rs 88 crore. By late evening, the fund house posted on X (formerly Twitter), probably choosing to err on the side of caution: “We wish to clarify that this was an Arbitrage transaction.” Arbitration trades are short-term by nature, involving the buying and selling of stocks almost simultaneously.
The response to the post was quick. Alok Jain, who goes by the handle @WeekendInvesting and …
Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.
Executive Editor
surendar@mailtmc.com
Mumbai