Stock market today, July 31 -- After the allotment of Foreign Currency Convertible Bonds to the Sun India Opportunities Investing Fund, a Mauritius-based FPI, shares of Zee Media Corporation saw strong buying interest in early-morning trading. The stock opened flat at Rs.7.46 apiece on the NSE, but soon gained momentum and touched an intraday high of Rs.8.20 per share, recording an intraday gain of around 10%.

At the board meeting held on Thursday, the company's board of directors allotted 3,960 FCCBs to Sun India Opportunities Investing Fund. These FCCBs are worth US$ 1000 each, maturing in 10 years.

Informing the Indian market exchanges about the allotment of FCCBs, the company said, "We wish to inform that upon receipt of Subscriptio...