Synopsis Invesco Oppenheimer's proposal to oust Punit Goenka and few other directors of Zee Entertainment's board by calling an extraordinary general meeting came as music to the ears for investors who have had reservations about the current board's ability to ride the company out of its current rut. Related Zee Entertainment shares rally 24%. Here’s why The Odd Trade: Zee Ent Call Option soars 9,600%; traders rue lost shot MUMBAI: Dalal Street loves its comeback story. Investors of Zee Entertainment Enterprises had their best day ever as the shares of the media company soared 40 per cent on the back of some head-turning shareholder activism by its largest investor. Invesco Oppenheimer's proposal to oust Punit Goenka and few other directors of Zee Entertainment's board by calling an extraordinary general meeting came as music to the ears for investors who have had reservations about the current board's ability to ride the company out of its current rut. If Invesco's proposals receive the majority of the shareholders' approval, then analysts believe it would finally put to bed concerns over corporate governance and capital allocation at a company that has an impeccable fundamental business with near zero debt. Stock Score, Analysts’ Ratings &… Read full this story
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