Mukta Arts zooms 30% in 2 sessions, hits 52-week high on biz transfer
Following the development, the stock rose 15.51 per cent to hit a 52-week high of Rs 118 on BSE. At this price, the stock is up 30 per cent in two day’s to Wednesday.
By ETMarkets.com |
NEW DELHI: Extending gains for second straight session, shares of Mukta Arts soared over 8.52 per cent to Rs 110.85 per cent after the company announced its plans to transfer its entire cinema division to its wholly-owned subsidiary Mukta A2 Cinemas.
Following the development, the stock rose 15.51 per cent to hit a 52-week high of Rs 118 on BSE. At this price, the stock is up 30 per cent in two day’s to Wednesday.
The stock had jumped 20 per cent on Tuesday.
The company told stock exchanges that it would hold a board meeting on September 29 to consider and get approval for slump sale through a business transfer agreement.
"A meeting of the board of directors of the company will be held on September 29 to consider and approve the transfer of the entire business of cinema division as a going concern to its newly-formed wholly-owned subsidiary Mukta A2 Cinemas," the company had told BSE.
Following the development, the stock rose 15.51 per cent to hit a 52-week high of Rs 118 on BSE. At this price, the stock is up 30 per cent in two day’s to Wednesday.
The stock had jumped 20 per cent on Tuesday.
The company told stock exchanges that it would hold a board meeting on September 29 to consider and get approval for slump sale through a business transfer agreement.
"A meeting of the board of directors of the company will be held on September 29 to consider and approve the transfer of the entire business of cinema division as a going concern to its newly-formed wholly-owned subsidiary Mukta A2 Cinemas," the company had told BSE.
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