India's Zee Entertainment stock stumbles since Sony deal collapse

MUMBAI -- Shares in Indian broadcasting giant Zee Entertainment Enterprises had slumped over 50% by mid-May from their level at the start of 2024 amid the collapse of merger talks with a Sony Group unit, with a recently proposed reorganization plan doing little to spark a major rebound.

The stock price fell to a four-year low of 129.25 rupees on May 13, down 52.9% from the end of 2023. That was nearly a third of a peak of 378.70 rupees reached in December 2021, after the start of talks with Sony Pictures was announced.