Sony terminated the merger with Zee due to certain unresolved conditions and leadership disputes, including disagreements over CEO Punit Goenka's involvement in regulatory issues.
According to an exchange filing, I-Pru MF has sold 2.06 crore shares or 2.15% stake between January 20 and January 30 in a series of secondary market transactions. At the end of the December quarter, the fund house held a 7.25% stake in the company and post the stake sale, it has about 5.09%.
The Bank Nifty index experienced significant selling pressure in the past week, causing it to trade below crucial short-term moving averages. The next immediate support for the index is at 44,000, and a conclusive break below this level is likely to intensify the selling pressure, potentially pushing the index towards 43,000.