Business
Zee Entertainment Shares Fall 7% After Sebi Bars Subash Chandra, Punit Goenka From Holding Directorial Roles
Shares of Zee Entertainment Enterprises fell over 6.50 per cent in morning trade on Tuesday after Securities and Exchange Board of India banned Essel Group chairman Subhash Chandra and Zee Entertainment Enterprises Limited’s (ZEEL) Punit Goenka from holding any directorial or key managerial position in any listed firm.
The stock tumbled 6.28 per cent to an intraday low of Rs 182.60 apiece on the BSE after a weak beginning.
On the NSE, it tanked 6.59 per cent to Rs 182 each share.
In the broader equity market, the 30-share BSE benchmark traded with a gain of 328.44 points or 0.52 per cent at 63,053.15.
In an interim order on Monday, Sebi barred Chandra and Goenka from holding the position of a director or key managerial personnel (KMP) in any listed company as they were involved in diverting company funds to the group’s related entities.
The case pertains to Chandra, who was also the chairman of ZEEL during the alleged violation, and Goenka having abused their position as directors or KMPs of a listed company for siphoning off funds for their own benefit.
In its interim order, Sebi noted that Chandra and Goenka alienated the assets of ZEEL and other listed companies of Essel Group for the benefit of associate entities, which are owned and controlled by them.
Sebi noted that the share price of ZEEL has come down from a high of close to Rs 600 per share to the current price of less than Rs 200 per share during the period FY 2018-19 to FY 2022-23. This erosion of wealth despite the company being so profitable and generating profit after tax consistently would lead to a conclusion that “all was not well with the company”.
Roadblock for Zee-Sony Merger
This decision by Sebi could become a major roadblock for Zee-Sony merger as Goenka is slated to be the MD and CEO of the merged company.
The merger that was expected to be completed by the first half of the current fiscal year ending March 31, 2024 has been facing one roadblock after another. Earlier, ZEEL was facing issues from its operational and financial creditors; now the merger is facing another issue.
The National Company Law Tribunal on May 11 had asked both BSE and NSE to reconsider Zee’s merger with Sony Pictures Networks India after the Shirpur Gold Refinery fund diversion case. However, the National Company Law Appellate Tribunal set aside this order.
The next hearing in NCLT will be on June 16.
Business
7.8 pc GDP growth reflects country’s progress: Maha CM Fadnavis, Dy CM Shinde

Mumbai/Thane, Sep 1: Maharashtra Chief Minister Devendra Fadnavis and Deputy Chief Minister Eknath Shinde on Tuesday hailed India as it registered a real GDP growth rate of 7.8 per cent in the first quarter of the 2026–27 financial year (Q1 FY27, April–June 2026) under the leadership of Prime Minister Narendra Modi reflecting the country’s progress.
Chief Minister Fadnavis in his post on social media platform X said, “Yehi hai right choice, Bharat! Let’s keep going the same way, same direction. 7.8 per cent growth in such times prove our potential and possibilities as a Nation with PM @narendramodi’s leadership! Congratulations Bharat!”
On the other hand, Deputy Chief Minister Eknath Shinde said that India’s economy continues to demonstrate strong growth with a 7.8 per cent GDP expansion at a time when several nations globally are grappling with conflict and economic fallout.
“This reflects economic progress and stability, this marks another key step toward achieving the vision of ‘Viksit Bharat 2047’,” The Deputy Chief Minister added.
Speaking to reporters on the country’s economic outlook, Deputy CM Shinde expressed confidence that under the leadership of Prime Minister Narendra Modi, India is moving steadily toward becoming an economic superpower and achieving its target of a $5 trillion economy.
He assured that the Maharashtra government will contribute significantly to this journey.
Highlighting the adverse global backdrop, the Deputy Chief Minister noted that ongoing wars and geopolitical conflicts have impacted multiple world economies.
“In contrast, India’s 7.8 per cent growth rate presents a highly promising picture and signals the nation’s rising economic strength.”
Deputy CM Shinde emphasised that every citizen should take pride in the nation’s strengthening economy.
However, he criticised the opposition parties for taking a negative stance on national progress due to political bias against PM Modi.
He remarked that appeals made by the Prime Minister are always aimed at national interest, upliftment, and growth, but are often viewed through a narrow political lens by his critics.
“Instead of questioning progress, everyone should contribute toward accelerating development,” Deputy Chief Minister Shinde added.
Reaffirming the state’s commitment, the Deputy CM said that Maharashtra will fully cooperate with the Central government to reach the $5 trillion target and realise the ‘Viksit Bharat 2047’ roadmap.
He asserted that India’s economic strides are a matter of pride for all 140 crore citizens, adding that the public will appropriately respond to those opposing the country’s growth.
Business
Railways okays Rs 233 crore electronic signalling system at 21 stations in Bihar

New Delhi, Sep 1: Indian Railways has approved a proposal for the provision of modern Electronic Interlocking (EI) at 21 stations of Samastipur Division (Bihar) of East Central Railway with an investment of Rs 233 crore, according to an official statement issued on Tuesday.
The approved work involves the replacement of existing panel interlocking with electronic interlocking at these stations in Bihar. The electronic system will strengthen railway signalling infrastructure across the division and facilitate the implementation of Kavach, the indigenous Automatic Train Protection system, to enhance safety.
Electronic interlocking is a modern signalling technology that replaces ageing relay-based systems with computer-based interlocking, ensuring higher reliability, faster fault diagnosis, easier maintenance and enhanced operational flexibility.
The initiative is part of Indian Railways’ continued efforts towards modernisation of signalling systems, strengthening railway safety and enhancing operational efficiency across its network, the statement said.
Indian Railways has also sanctioned the Bhavnagar Para (BVP) Yard Remodelling project in Gujarat at a cost of around Rs 125 crore. The project will strengthen rail infrastructure in Bhavnagar by creating additional operational capacity at Bhavnagar Para and improving facilities for passengers.
The project will help decongest Bhavnagar Terminus by shifting stabling and other operational activities to Bhavnagar Para. This will enable smoother train operations, reduce rake detention and help improve punctuality. The additional infrastructure at Bhavnagar Para will facilitate better management of train movements and provide greater operational flexibility.
The remodelling work includes four loop lines, one engine reversal line, ART and ARME siding, relocation of the Station and EI building, one high-level passenger platform, widening of the existing platform, extension of the existing Foot Over Bridge (FOB) and construction of one new FOB. The project will also include two Road Under Bridges (RUBs), including one new RUB and extension of an existing RUB, along with service buildings and associated electrical and signalling works.
Passenger convenience will be enhanced through a new high-level island platform, widening of Platform No. 2 and improved FOB connectivity at Bhavnagar Para station. These facilities will provide easier movement and access for passengers, the statement added.
Business
669 metric tonnes onions sold at Rs 35 per kg, Rs 210 crore paid directly to 3,400 farmers: Govt

New Delhi, Sep 1: Retail sales of onions continue at Rs 35 per kg and a total of approximately 669 metric tonnes (MT) of the staple vegetable has been sold to date, comprising 223 MT through bulk channels via the e-NAM portal and similar online platforms at prevailing mandi prices, and 446 MT through retail channels across the country, the government said on Tuesday.
The affordable onion sale is being organised through the NCCF, the NAFED, Kendriya Bhandar outlets, and mobile vans, ensuring affordable availability for consumers.
“Simultaneously, around 1,000 MT of onions are being transported by road to major consumption centres, based on prevailing market conditions and price trends, with the aim of improving availability and moderating seasonal price pressures,” the Ministry of Consumer Affairs, Food, and Public Distribution said in a statement.
Further, Rs 210 crore has been paid directly to around 3,400 farmers, ensuring timely payments.
The government said it has begun a calibrated release of onion buffer stocks through a hybrid transportation model comprising railway rakes (Kanda Express) and road transport to major consumption centres to ensure adequate availability and moderation of seasonal price pressures.
As part of this initiative, two Kanda Express consignments have been dispatched from Nashik. The first rake, carrying 450 MT of onions, reached Delhi in the late hours of August 27.
Of this, 140 MT was subsequently distributed across Varanasi, Lucknow, Chandigarh, and Amritsar, with the remaining quantity distributed across the Delhi-NCR region.
The second rake, carrying 840 MT of onions, reached Chennai on August 31. The Tamil Nadu government plans to distribute these onions through the Public Distribution System (PDS) against the requirement of 1 kg per card.
The onions are likely to be distributed across various districts of Tamil Nadu as per the proposed district-wise clustering:
Retail intervention efforts have expanded significantly across 19 cities, supported by the dispatch of over 30 trucks to ensure widespread availability, said the official statement.
The release of onions from buffer stocks has improved market availability and eased prices, particularly in centres where onion consignments have reached, such as Varanasi, Amritsar, Delhi and nearby markets. Prices have shown a decline from the day following the commencement of disposal, with increased supplies expected to further support price stability.
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