Zee Entertainment's willingness to repay IndusInd Bank's loan has given investors confidence, resulting in a 9% surge in the stock price. The repayment is expected to help the company close a mega deal with Sony.


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Shares of Zee Entertainment jumped over 9% in today's session as news that Zee Entertainment was willing to repay IndusInd Bank's loan gave investors confidence in the stock. 

Zee Entertainment was in trouble with IndusInd Bank as the same had approached the NCLT to initiate insolvency proceedings against Zee Entertainment in February over non-payment of dues worth Rs 83.7 crores. 

However, reports have suggested that the company is willing to repay the loan by as early as Friday in a bid to resolve the insolvency proceedings since a giant merger with Sony's India arm is on hand. 

Moreover, the report has also suggested that the bank is willing to withdraw the insolvency application as soon as payment is made. 

This move will assist Zee Entertainment to resolve its financial woes and help the company close its mega deal with Sony to create a $10 billion giant. 

The stock opened around the previous day's close as the movement wasn't much during the first half of the day. However, after 1:00, investors rushed to buy the stock as the stock surged over Rs 200 and ultimately closed at Rs 206.70 per share, up 9.34% in a day!!

- Aman Agarwal

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