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The board of Zee Media Corporation on Thursday granted in-principle approval for availing secured loan of up to ₹500 crore from Arm Infra & Utilities Pvt Ltd, one of the promoters of the company. The board has approved the loan arrangement after considering various funding options for the radio business being acquired by Zee Media Corporation. After hitting a new 52-week high of ₹41.20, the stock closed at ₹40.80, still up 5.8 per cent on the NSE.
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