Steep fall! Zee Entertainment shares drop 28.18% following Sony's merger termination; here’s what experts have advised

Zee Entertainment shares plunged 28.18% as brokerages downgraded the stock due to the cancellation of the Sony merger. The media company is expected to face increased competition from the reported merger of Reliance and Disney Star. Analysts predict Zee's near-term valuation will remain subdued due to uncertainties about its new strategy and partners.