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Zee Entertainment shares gain as Rare Enterprises, BofA Securities pick up stake

The concerns over corporate governance after key shareholders, Invesco Developing Markets Fund and OFI Global China Fund LLC demanded the removal of three directors, seems to have not affected the confidence of investors, as the stock rallied 40 percent to close at Rs 261.50 on the BSE, the highest level seen since February 2020. Invesco and OFI Global China Fund LLC are the largest shareholders of Zee Entertainment Enterprises, together owning 17.88 percent stake in the company.

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