Zee Entertainment Enterprises, one of the largest Indian media and entertainment companies, witnessed a gain on Tuesday after Reserve Bank of India (RBI) allowed foreign institutional investors (FIIs) to invest upto 100% of the paid up capital of the company under the portfolio investment scheme. The RBI raised the FII investment limit from 49%.

The company has passed resolutions at its board of directors' level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs.

Shares of the company are trading at Rs 272, up Rs 6.6, or 2.49% at the Bombay Stock Exchange (BSE) on Tuesday at 10:56 a.m.

The scrip has touched an intra-day high of Rs 282.70 and low of Rs 271.60. The total volume of shares traded at the BSE is 285,482.

In the earlier session, the shares lost 0.45%, or Rs 1.2, at Rs 265.40. Currently, the stock is trading down 9.9% from its 52-week high of Rs 301.90 and above 30.71% over the 52-week low of Rs 208.10.