GECs
Zee Entertainment Enterprises to be a Nifty 50 stock soon
MUMBAI: The Subhash Chandra-owned Zee Entertainment Enteprises Ltd (Zeel) is getting blue blooded once again. The Zeel stock is all set to get included in the 50-share CNX Nifty index, come 19 September 2014. It will be stepping into the spot left vacant by the eviction of the Diageo-controlled United Spirits Ltd (USL). The latter enjoyed just a six month stay in the CNX Nifty 50 as it had been placed in it in April 2014.
India Index Services & Products Ltd, a NSE-Crisil joint venture that maintains the Nifty index, on 20 August, after market hours released a statement stating the same.
Zeel jumped to a high of Rs 300 during the early trade on 21 August. It opened 1.7 per cent higher than the previous close of Rs 293, while the stock of USL was trading under pressure, following news of its being dumped from the Nifty. The stock opened 3 per cent lower at Rs 2,390 and ended 2.1 per cent lower than the close on 20 August 2014.
This is not Zeel’s debut on the CNX Nifty 50 Index. It had an earlier stint which ended in March 2009 when Axis Bank replaced it. Another notable point is that while USL has fallen more than 20 per cent since its inclusion in the Nifty 50 in April 2014, Zeel has risen around 35 per cent in the past one year.
NSE also announced other inclusions and exclusions in the index; Aurobindo Pharma and Motherson Sumi Systems will be included in CNX Nifty 100 replacing Mphasis and Zeel.
There have been changes in the CNX Nifty 200 as well. Companies such as CARE, Castrol India, Muthoot Finance, Edelweiss Financial Services, Kaveri Seeds, Marico among others will replace the likes of Adani Power, CRISIL, Bhushan Steel and Vijaya Bank etc.
A total of 15 companies in the CNX 500 index, two from the FMCG and LIX 15 indices and one each from the CNX Consumption and NI15 indices have been replaced. All the changes will be effective from 19 September 2014.
The CNX Nifty 50 index is reviewed every six months and a six week notice is given to the market before any changes are made to the index set. As per the guidelines, only 10 per cent of the Nifty stocks (five stocks) can be reshuffled in a calendar year. Two stocks (USL and Tech Mahindra) were already included in the Nifty 50 in April 2014.
In 2010 and 2012, four stocks from the Nifty were replaced while in 2011, two stocks and 2013, three stocks were substituted.
Zeel also has been included in the recently launched CNX Media Index on the NSE and carried the maximum weight of 45.45 per cent in the index that comprises 15 media and entertainment stocks. The methodology for selection of the stock was based on free float market capitalisation.
Click here for details of NSE’s CNX Nifty Index methodology
GECs
Samsung TV Plus launches Kings of Comedy channel
New free FAST channel brings iconic Hindi comedy shows to millions of Samsung Smart TV owners.
MUMBAI: Samsung TV Plus has just turned up the laughter volume and it’s completely free. The leading free ad-supported streaming television (FAST) service in India has launched Kings of Comedy, a premium comedy channel featuring some of the country’s most beloved primetime shows. Available exclusively on Samsung TV Plus, the channel delivers back-to-back hits including Comedy Nights with Kapil, Khatra Khatra Khatra, and Comedy Nights Bachao, with no login or subscription required.
The launch marks a milestone for free streaming in India, offering audiences a dedicated comedy destination directly from their Samsung TV home screen. It arrives as Samsung TV Plus India celebrates its 5th anniversary, during which the service has grown its monthly active users by 42 per cent and more than doubled its total viewing hours. The platform now offers over 180 free channels across 14 languages.
Samsung TV Plus India general manager and head of business development Kunal Mehta said, “Comedy is the heartbeat of Hindi entertainment, and Kings of Comedy brings together the shows Indians already love, completely free on their Samsung TV. Our focus remains the same take the content people know and make it effortless to access.”
Globally, Samsung TV Plus has surpassed 100 million monthly active users across more than 4,500 channels, solidifying its position as one of the world’s leading free streaming services.
Kings of Comedy is now available on all compatible Samsung Smart TVs. For viewers seeking non-stop laughter without any cost, this new channel delivers a royal treat proving that sometimes the best entertainment really does come with no strings (or subscriptions) attached.
