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Momemtumisers: Key reasons behind surge in Zee’s share price

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Momemtumisers: Key reasons behind surge in Zee’s share price

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Zee Entertainment Enterprises surged 10 percent this week and outperformed Nifty Media that surged nearly 7.5 percent.

Zee Entertainment Enterprises surged 10 percent this week and outperformed Nifty Media that surged nearly 7.5 percent.

In Thursday's session, it was up 3 percent with its volumes 3.5 times more than its average volume. This was turnover was more than that of preceding four days.
The stock also crossed the 100-day moving average (DMA) of Rs 208 per share on Thursday.
What led to this move?
A week ago, the company released the fourth-quarter results, and the numbers were good. The stock has valuation comfort as well and trades at eleven times the earnings per share -- the cheapest in the sector.
CNBC-TV18’s Sonal Bhutra has more details, watch the video.
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