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Zee scrip rallies on growth hopes

Mumbai, Sept. 25: Riding high on news of a healthy growth in its subscription revenues and buoyed by optimism that recent changes in content could lead to an encouraging performance this year, the Zee Telefilms Ltd (ZTL) scrip today gained over 4.10 per cent on the BSE today.

Shares of the company, which have recently come under selling pressure, opened at Rs 84 and after rising to an intra-day high of Rs 90.10, finished at Rs 89.10, a gain of over 4.10 per cent. The counter saw 28,916 trades with over 57.83 lakh shares being transacted, generating a turnover of Rs 50.94 crore.

Buying interest in the counter was generated by the company’s communication to the stock exchanges late on Tuesday that subscription revenues from the domestic as well as international markets were growing at a healthy rate, which, it said, would provide an increasing broad basing of the revenue stream in the days ahead.

Zee added that it has taken significant new initiatives in recent months to strengthen its programming and the results have been very encouraging. Its latest offerings—‘Kittie Party,’ ‘Love Marriage,’ ‘Lipstick,’ and ‘Aati Rahengi Baharein’—have drawn good reviews and are steadily climbing the popularity charts.

In another major initiative, the company will also be showcasing new movies every week on prime time television, under the “Thursday Premier” brand. Zee has acquired world satellite rights ranging from five to 10 years for these movies. This would make this initiative a highly cost effective one, apart from its unique and long-term appeal to South Asian audiences world-wide.

“Zee expects to recover the cost of these movies during the first airing on Zee TV and Zee Cinema,” it noted.

In another move, it is planning to consolidate viewership by introducing Sunday prime time programming. The Alpha Channels continue to strengthen their respective positions in each of their regional markets.

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