Picture remains hazy for Zee as financials worsen; stock falls 5.5%

The Zee Entertainment stock dropped over 5.5 per cent on Friday, on worries that its cash flows could come under further pressure on rising investments, related party activities, and muted advertising growth.  Further, share pledges and promoter debt continue to be the pain points for the stock.  Among the concerns of the Street are write-offs and related party transactions. Zee had written off Rs 170 crore on an inter-corporate deposit to related parties during the September quarter.  In addition, trade receivables have increased by Rs 600 crore over the last .....

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