Adlabs Entertainment zooms 20% on Jhunjhunwala buys shares

NEW DELHI: Shares of Adlabs Entertainment zoomed over 20 per cent in Friday’s trade after NSE data showed Insync Capital Partners, which has ace investor Rakesh Jhunjhunwala and his wife Jhunjhunwala among its directors, bought equities in the company.

Data available with NSE showed the limited partnership company bought 4 lakh Adlabs shares at an weighted average price of Rs 81.84 and sold some 50,000 shares at 81.06 apiece on Thursday.

Following the development, the stock jumped 19.64 per cent to hit a high of Rs 99.90 on BSE. Despite the gains, the stock is down 19 per cent in past one year.

The positioning of the business has been redefined over Q1 of FY17 and the year will be a stabilisation one, wherein all the products are functioning together for the first time, the company said in a recent presentation.

During the quarter, average revenue per user (Arpu) from Theme Park jumped 18 per cent and that from Water Park 27 per cent. Besides, the company witnessed 21 per cent YoY improvement in ticketing Arpu. Meanwhile, the company witnessed a 4 per cent drop in footfalls in June quarter and saw losses for at least fifth quarter in a now.