On the BSE, 5.73 crore shares of the company had changed hands at the counter as against an average trading volume of 1.75 lakh shares in the past two weeks.

On the NSE, 1.23 crore shares of the company had changed hands at the counter as against an average trading volume of 79.17 lakh shares in the past three months.

Media reports published over the weekend stated that Invesco Developing Markets Fund, an investor in Zee Entertainment Enterprises (ZEEL), is poised to sell its entire 5.65% stake in the company for as much as Rs 1,130 crore.

In October, Invesco had reportedly sold 5.51% of ZEEL for around Rs 1,395.9 crore, paring its shareholding in the Indian broadcaster to 5.65%.

As per reports, Invesco has been reducing its holding in ZEE since it withdrew its demand seeking the removal of managing director Punit Goenka from ZEEL's board last year while supporting the company's proposed merger with Sony Pictures Networks India. This was after months of a legal tussle between the offshore investor and the media company, the reports said.

In March last year, Invesco had reportedly sold 74.3 million shares of ZEEL, amounting to 7.74% stake in the company at an average price of Rs 281.46 per share for Rs 2,092 crore in bulk deals.

ZEEL is a media & entertainment company offering entertainment content to diverse audiences. It is present across broadcasting, movies, music, digital, live entertainment, and theatre businesses, both within India and overseas.

The company's consolidated net profit slumped 91.9% to Rs 24.31 crore in Q3 FY23 as against Rs 298.73 crore recorded in Q3 FY22. Revenue from operations declined marginally to Rs 2,111.18 crore in quarter ended 31 December 2022 from Rs 2,112.64 crore posted in the same period a year ago.