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Stock Market News - Zee jumps up to 19%, BPCL Falls

Zee Entertainment jumps up to 19% on promoter stake sale, pares gain later - Shares of Zee Entertainment Enterprises (ZEEL) surged up to 19 percent to Rs 364 in the early morning deals on the National Stock Exchange (NSE) on Thursday after the promoter Essel Group sold nearly 15 percent stake in the company for Rs 4,343 crore. 

Around 142.87 million equity shares (representing 14.87 percent stake of ZEEL) changed hands on the NSE through block deals, the exchange data shows

Rupee Opening Alert - Rupee opens flat at 71.83/$ vs Wednesday's close of Rs 71.82 per US dollar

DHFL Fluctuates After RBI Supersedes Board Shares of Dewan Housing Finance Corporation swung to a fall of as much as 2.9 percent from a gain of as much as 4.9 percent. 

That comes after the Reserve Bank of India has superseded the board of Dewan Housing Finance Corporation Ltd. and intends to refer the non-bank lender for resolution under the newly introduced insolvency window for financial service providers.

Bharti Airtel, Vodafone Idea Erase Opening Gains Shares of Bharti Airtel swung to a fall of as much as 2.3 percent from a gain of as much as 1.2 percent, while shares of Vodafone Idea swung to a fall of as much as 12.3 percent from a gain of as much as 12.3 percent.

BPCL Falls After Cabinet Approves Divestment Minus One Refinery Shares of Bharat Petroleum Corporation fell as much as 3.2 percent to Rs 527.30. The Cabinet has approved a strategic divestment of the government’s 53.29 percent stake Bharat Petroleum Corporation Ltd. divestment to a strategic buyer, along with transfer of management control. 

The divestment will exclude BPCL’s 61 percent stake in Numaligarh Refinery in Assam, which will be moved out of BPCL before the disinvestment and retained by the government.

Network18 Jumps Over 11%, TV18 Broadcast Up 10% On Sony Stake Buy Report Shares of Network18 Media & Investments rose as much as 11.7 percent to Rs 28.75 while shares of TV18 broadcast rose as much as 9.7 percent to Rs 24.90.

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