January 19, 2022

The World Live Breaking News Coverage & Updates IN ENGLISH

The World Live Breaking News Coverage & Updates IN ENGLISH

Zee Learn stock price tumbles after Morgan Stanley, IndusInd Bank offload 1.19 crore shares

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, Zee Learn stock price tumbles after Morgan Stanley, IndusInd Bank offload 1.19 crore shares, The World Live Breaking News Coverage & Updates IN ENGLISH
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, Zee Learn stock price tumbles after Morgan Stanley, IndusInd Bank offload 1.19 crore shares, The World Live Breaking News Coverage & Updates IN ENGLISH

Morgan Stanley Asia (Singapore) Pte – ODI offloaded 47,69,108 equity shares of Zee Learn at Rs 18.44 per share via open market transaction on the NSE.

, Zee Learn stock price tumbles after Morgan Stanley, IndusInd Bank offload 1.19 crore shares, The World Live Breaking News Coverage & Updates IN ENGLISH

Zee Learn | Promoter entity Asian Satellite Broadcast’s shareholding in company reduced to 7.63 percent from 10.84 percent earlier. (Image: Moneycontrol)

Zee Learn share price fell over 4 percent in the morning session on January 7 after Morgan Stanley offloaded 47.69 lakh shares of the company.

Morgan Stanley Asia (Singapore) Pte – ODI on January 6 has offloaded 47,69,108 equity shares in Zee Learn at Rs 18.44 per share via open market transaction on the NSE.

IndusInd Bank (Client A/C) also sold 71,32,775 equity shares in Zee Learn at Rs 17.77 per share on the NSE, as per bulk deals data. However, Spring Ventures acquired 50 lakh equity shares in Zee Learn at Rs 19.57 per share.

The stock was trading at Rs 18.75, down Rs 0.85, or 4.34 percent at 09:35 hours. It has touched an intraday high of Rs 20.70 and an intraday low of Rs 18.55.

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The stock price surged 20 percent yesterday after sources told CNBC-TV18 that Byju’s is looking to acquire a majority stake in Zee Learn. However, the latter dismissed the development as speculative and has denied any dialogue with the Bengaluru-based educational technology startup.

The comment came shortly after sources said talks between Byju’s and the Zee Entertainment Enterprises subsidiary are at a preliminary stage. They said the ed-tech startup may acquire a stake of nearly 51 percent in Zee Learn via a mix of a preferential issue and sale of stake by shareholders, a CNBC-TV18 report said.

Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol advises users to check with certified experts before taking any investment decisions.

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