Shares of Zee Entertainment Enterprises Ltd (ZEEL) will be in focus heading into trade on Thursday after the board approved plans to raise at least Rs 2,300 crore in one or more tranches to support strategic and business initiatives, as the media company seeks to bolster its balance sheet and invest in new growth opportunities.

In a stock exchange filing on Wednesday, Zee said its board cleared the fundraising proposal at a meeting held on June 10. The company did not disclose the method through which the capital would be raised.

“The Board of Directors has approved the raising of capital by the Company of minimum Rs 2,300 crore in one or more phases/tranches to fund the strategic and business initiatives,” Zee said, adding that the board would continue evaluating the various fundraising options available.

The stock will also be in focus as the FIFA World Cup 2026 kicks off today with Mexico hosting South Africa. The company secured exclusive media rights for FIFA events in India until 2034, resolving uncertainty surrounding the broadcast of the 2026 FIFA World Cup in one of the world’s largest football-viewing markets.

The agreement gives Zee rights to air 39 FIFA tournaments over the next eight years, including the FIFA World Cups scheduled for 2026 and 2030. The financial terms of the deal were not disclosed.

Alongside its core television business, Zee has been broadening its presence in emerging segments through investments in ventures such as micro-drama platform Bullet and visual effects studio PhantomFX. The company has also been building a dedicated sports broadcasting portfolio.
The fundraising announcement follows a challenging March quarter. Zee reported a loss for the quarter ended March 2026 as profitability was impacted by higher operating costs and weaker advertising demand, with spending affected by geopolitical tensions in the Middle East.Zee Entertainment Enterprises reported a consolidated net loss of Rs 104 crore for the January-March quarter of FY26, compared to a net profit of Rs 188 crore in the year-ago period. The media & entertainment company’s operating revenue declined 7% to Rs 2,025 crore in Q4 FY26 versus Rs 2,184 crore posted by the company in the corresponding quarter of the previous financial year.

The Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) loss stood at Rs 269 crore versus Rs 285 crore in Q4 FY25 and Rs 240 crore in Q3 FY26. The adjusted EBITDA declined 51% YoY and 42% QoQ.

Zee shares are up 13% in 2026 and down about 22% in the last 1 year.

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SpaceX’s debt profile remains an area to watch. According to a Reuters report citing regulatory filings, the company secured a $20 billion bridge loan in April to refinance a significant portion of its existing debt ahead of the IPO. The loan was provided by a syndicate of lenders that was not identified. Under the loan terms, SpaceX could be required to use IPO proceeds to repay the borrowing if it is not refinanced or repaid through other sources within six months of the offering.

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‘As we look back on our 50 years in business, we are proud to have supported many thousands of charitable, community and environmental causes’

North East property and mining company Banks Group has returned to profit after its turnover rose sharply. The County Durham group has published accounts which show turnover of £43.4m, up from £27.1m seen a year earlier. The accounts, covering the year to the end of September 2025, report operating profit of £8.4m, having been a loss of £5.1m in the previous year.

Within the group, Banks’ mining division reported a turnover of £16m, there was £15.5m from Banks Homes and £10.8m from Banks Property.

Founder Harry Banks used the report to highlight how “the current planning system is unduly slow and unpredictable with significant delays across the UK leading to shortages in land available for much-needed new housing.” He added that Banks was investing in its operations to provide future growth.

The family-owned firm is celebrating its 50th anniversary this year and has retained its headquarters in County Durham since being founded in Tow Law in 1976.

Mr Banks said: “We’re immensely proud of our County Durham and North East heritage, which has been the foundation on which our growth, diversification and success has been based over the last 50 years. Our performance in 2025 was ahead of the previous year as we focussed on the future growth prospects for the business.

“We have continued to invest in our new house building arm, Banks Homes, which is well placed to deliver future growth and earnings, and believe we will deliver good growth and earnings in the coming years from the investments we are making across all our operations.”

Banks said it was working on housebuilding developments in West Rainton, Yarm, Wynyard and Hambleton in North Yorkshire. It was aiming to deliver an annual target of around 200 new homes a year by the end of 2027 and then 400 new homes a year by 2031.

The Banks Group has also continued to deliver grant funding to dozens of community groups and environmental projects across its operating areas during 2025.

Mr Banks added: “As we look back on our 50 years in business, we are proud to have supported many thousands of charitable, community and environmental causes and to have helped to deliver long-lasting positive changes that make a real difference to people’s lives.”

The group’ headcount fell slightly during the year to an average of 168, but its wage bill rose to £11.9m, having been £10.7m in the previous year.

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Sugar stocks rallied sharply on Thursday after the Finance Ministry notified a cut in excise duty on ethanol-blended petrol, boosting optimism surrounding India’s ethanol blending programme.

Shares of Dwarikesh Sugar, Dhampur Sugar, Mawana Sugars, Balrampur Chini, and Dalmia Bharat Sugar rose 3–4%, as investors cheered the policy move that is expected to support ethanol demand and improve earnings visibility for sugar manufacturers.

According to a Times of India report, India has waived excise duty on multiple ethanol-blended petrol variants, including E22, E25, E27 and E30, as part of its broader strategy to accelerate the adoption of cleaner fuels.

The exempted blends include E22 (78% petrol and 22% ethanol), E25 (75% petrol and 25% ethanol), E27 (73% petrol and 27% ethanol), and E30 (70% petrol and 30% ethanol), reflecting the government’s push towards higher ethanol blending in transport fuels.

The move aligns with the government’s ambitious ethanol roadmap, which includes launching 50–100 ethanol fuel stations across Delhi-NCR, Mumbai, Pune and Nagpur before expanding the network to 500 outlets by the end of 2026.

The announcement comes at a time when global energy markets remain under pressure due to the ongoing Middle East conflict. Crude oil prices have climbed from around $70 per barrel to above $100, leading to a cumulative increase of over Rs 7.5 per litre in domestic petrol and diesel prices.
The Finance Ministry had earlier indicated that state-run oil marketing companies are preparing to offer E85 fuel at a discount of Rs 20 per litre compared with E20 petrol. The discount aims to offset ethanol’s lower energy content and encourage consumer adoption.While E85 contains 85% ethanol and 15% petrol, E20 petrol—already compatible with most vehicles on Indian roads—will continue to be available nationwide.

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For sugar companies, the excise relief is being viewed as a significant positive. A faster shift towards ethanol blending could create a sustained demand avenue beyond traditional sugar sales, giving the sector another reason to celebrate.

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