Interim relief? Zee Entertainment stock zooms 6% post Sony Pictures’ comment; volumes up 5x

Shares of Zee Entertainment Enterprises rose over 6% due to comments by Sony Pictures on their proposed merger deal. Sony said that they were monitoring the situation closely, sparking hope that the 2-year-old deal may not fall through. There is still significant uncertainty over the deal, however, due to Zee’s legal troubles over loan defaults and reports that stock exchanges were reconsidering approvals for the merger. The Securities Appellate Tribunal (SAT) is set to make a final ruling on the interim order barring Zee’s Chairman and MD from holding directorial positions until further notice.