Zee Entertainment Enterprises Ltd has resolved a major obstacle to its proposed merger with Sony Pictures Networks India by reaching a settlement with IndusInd Bank in an insolvency case.

Zee reaches settlement with IndusInd Bank, moves closer to merger

IndusInd started bankruptcy proceedings against Zee Entertainment late last month over a default of Rs 83 crore

Decks cleared for Zee-Sony merger as ZEEL, IndusInd Bank settle dispute over dues

IndusInd Bank shares have fallen despite stellar earnings in the third quarter. The earnings were announced on January 18. Since then, the stock is down by Rs 168.5 or 13.78% on BSE. It closed at Rs 1222.5 on January 18.

IndusInd Bank shares: Despite high promoter pledge, here are four triggers for a 50% upside

ZEE Entertainment shares rose 5.05 per cent to hit a high of Rs 219.45 on BSE. Despite this, the scrip is down 11 per cent year-to-date and 24 per cent in the last one year.

ZEE Entertainment shares jump as firm settles dispute with IndusInd Bank over dues

The insolvency plea by IndusInd Bank against Zee had raised questions over the smooth merger of the company with Sony Pictures, which was already delayed due to regulatory requirements. In February alone, shares of Zee Entertainment lost nearly 14% of its value.

Booster Shot! Settlement with IndusInd Bank lifts Zee Ent shares to 1-month high

Zee Entertainment Enterprises Ltd and IndusInd Bank Ltd told the NCLAT on Wednesday that the two companies have settled a dispute over dues of the media company. IndusInd Bank, in its plea, had claimed a default of Rs 83.08 crore against the media and entertainment firm promoted by Subhash Chandra.

Zee Entertainment, IndusInd Bank settle dispute over dues

The NCLAT was informed that IndusInd will take back its objections to Zee-Sony merger.

Zee Entertainment, IndusInd Bank Settle Insolvency Dispute

On February 22, the Mumbai bench of the NCLT had admitted the bank’s insolvency plea against ZEEL

ZEEL, IndusInd Bank settle dispute paving way for Sony-Zee merger

Certain money has been paid as per the agreement already , second instalment to be paid by June 30.

ZEE, IndusInd Bank reach settlement, stock surges 4% as deal with Sony to go ahead

Hindalco Industries, Tata Steel, JSW Steel, IndusInd Bank and Bharti Airtel were among the biggest losers on Nifty, while gainers included BPCL, Nestle India, Asian Paints, HUL and Titan Company

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In Neeraj Dewan’s opinion, Kotak Bank and IndusInd Bank should provide decent returns for investors due to improving valuation after a long time of underperformance. Conversely, investors should look at Adani Group stocks from a valuation perspective, as only those companies with adequate valuations…

Kotak Bank & IndusInd Bank should give a decent return to investors: Neeraj Dewan

Hasn't faired well - amongst the low performers

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Showing good signs of profitability & efficiency

Profitability

The stock is underpriced and is not in the overbought zone

Current price is less than the intrinsic value

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

IndusInd Bank Limited is engaged in banking and para-banking services. The Bank is involved in accepting deposits, such as savings accounts, current accounts and fixed deposits, and banking solutions.