Mukta Arts Up By Over 4% Other Media Stocks Also Gain

Mukta Arts touched intraday high of Rs 98 per share, higher by around 5.2% in the pre-lunch hour on Thursday. The stock opened marginally higher and remained flat in the first half of Thursday’s trading session.The stock attracted huge trading volume of 84,598 shares and traded value of Rs 81.19 lacs as of 1239 hours.

The company’s business were impacted by demonetisation drive in the quarter ended December 31, 2016. However, the revenue of the next two quarters were higher and net profits also improved with respect to previous quarters.The stock witnessed around 70% deliverable quantity to the traded quantity in the past two trading sessions.

Other media stocks like PVR, Eros Media, Den Networks Limited, Zee Entertainment are also gaining grounds on the bourses on Thursday. It seems investors sentiments have buoyed over the media and entertainment industry. The Indian media & entertainment sector is expected to grow at a Compound Annual Growth Rate (CAGR) of 14.3% to touch Rs 2.26 trillion by 2020, reported a leading research agency.

Mukta Arts Ltd is currently trading at Rs 95.6, up by Rs 2.5 or 2.69% from its previous closing of Rs 93.1 on the BSE.The scrip opened at Rs 94.5 and has touched a high and low of Rs 98 and Rs 92.3 respectively. So far 135668(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 210.23 crore.

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