Zee Entertainment Enterprises, one of the largest Indian media and entertainment companies, announced that consequent to exercise of stock options granted by the company under ESOP scheme by 3 option grantees, the company has allotted 29,700 equity shares of Rs 1 each at an exercise price of Rs 119.90 a share.

The stock had underperformed the market over the past one month till Feb. 26, 2014, falling 3.98% compared with the Sensex's 0.69% decline. It outperformed the market in past one quarter, gaining 17.60% as against 2.75% rise in the Sensex.

Shares of the company gained Rs 1.25, or 0.47%, to settle at Rs 268.45. The total volume of shares traded was 552,931 at the BSE (Friday).