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Zee Entertainment boardroom coup: What’s in store for investors? – Moneycontrol.com

The boardroom battle is likely to impact the share price of Zee Entertainment. However, it is directionally positive for investors in the long run

PRO Only Highlights
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Quarterly performance largely backed by improved realisations
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Medium-term triggers China plus and protectionist measures for tyre industry
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Valuations not inexpensive; but improved medium-term outlook

Two institutional investors of Zee Entertainment Enterprises — Invesco Developing Markets Fund & OFI Global China Fund LLC — with a combined holding of 18 percent stake have called an extraordinary general meeting of shareholders seeking resignation of Managing Director Punit Goenka and two directors from the board. Further, they have asked for the appointment of six new independent directors nominated by them. The two directors named — Manish Chokhani and Ashok Kurien — have resigned and Punit Goenka…