BENGALURU (Reuters) – Shares of Indian broadcaster Zee Entertainment Enterprises plunged 10% in pre-open trade on Tuesday, a day after Japan’s Sony Group scrapped a $10 billion merger with the company, raising concerns about its survival in an increasingly competitive industry.
At least five brokerages said investors should sell Zee’s stock.
(Reporting by Rama Venkat in Bengaluru; Editing by Mrigank Dhaniwala)