Mukta Arts stock falls 16% as Yuvvraj sees dismal opening
With the high profile "Yuvvraj" of Subhash Ghai camp witnessing a dismal opening, the stock price of the company showed an equal dismal performance on the bourses.
By Jigar Pathak, ET Online |
MUMBAI: With the high profile "Yuvvraj" of Subhash Ghai camp witnessing a dismal opening, the stock price of the company showed an equal dismal performance on the bourses. In fact, Mukta Arts, which is listed on the Bombay Stock Exchange, has always moved in tandem with the poor performance of his directorial ventures in the cinema halls, especially considering that his last five ventures have got a lackadaisical response from cinema goers.
Reacting to the poor show of the ���showman���, the stock price of Mukta Arts tumbled by more than 16 per cent or Rs 9.05 from previous day���s trade to end at Rs 45.50 on Monday.
���Black and white���, also directed by Subhash Ghai which hit the theatres early in the year, also saw the same fate for the stock. Ignoring the acclaim that the movie got from serious movie buffs, the stock price followed the poor box office collection, falling by around 1.5 per cent on the next trading session. Same was the reaction of the stock to the over hyped and high profile star cast movie such as ���Yaadein��� (July 27, 2001) and ���Kisna��� (Jan 21, 2005).
An analyst tracking the sector at a leading broking firm said, "One must take into account the cost borne by the distributors of the movie (EROS International and Shree Ashtavinayak Cine Vision) considering that the movie has received a cold response. Considering that his last few movies were a disaster the distributors would think twice before picking up his project the next time."
Reacting to the poor show of the ���showman���, the stock price of Mukta Arts tumbled by more than 16 per cent or Rs 9.05 from previous day���s trade to end at Rs 45.50 on Monday.
���Black and white���, also directed by Subhash Ghai which hit the theatres early in the year, also saw the same fate for the stock. Ignoring the acclaim that the movie got from serious movie buffs, the stock price followed the poor box office collection, falling by around 1.5 per cent on the next trading session. Same was the reaction of the stock to the over hyped and high profile star cast movie such as ���Yaadein��� (July 27, 2001) and ���Kisna��� (Jan 21, 2005).
An analyst tracking the sector at a leading broking firm said, "One must take into account the cost borne by the distributors of the movie (EROS International and Shree Ashtavinayak Cine Vision) considering that the movie has received a cold response. Considering that his last few movies were a disaster the distributors would think twice before picking up his project the next time."
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