Mukta Arts Share Price Soars 18%: Investors Keep Buying Subhash Ghai’s Stock for 2nd Day!

Baishakhi Mondal

Published on:

Mukta Arts Share Price Soars 18%: Investors Keep Buying Subhash Ghai's Stock for 2nd Day!

Mukta Arts Sees Significant Rise in Stock Price Amid New Deal with Zee Entertainment

Subhash Ghai’s esteemed film production company, Mukta Arts, known for iconic films like Karz, Taal, Saudagar, Khalnayak, and Karma, is experiencing a remarkable boost in its stock value, marking consecutive gains in response to a major announcement. As of September 26, the stock surged by 18 percent, building on a significant 20 percent gain the previous day. This positive trend follows a recent agreement with Zee Entertainment Enterprises Limited to acquire satellite and media rights for 37 films over the next six years.

Stock Performance Overview

The stock opened at BSE with a gain of Rs 104 on September 26, climbing dramatically to reach a peak of Rs 115.08, a new 52-week high. The upper price band stands at Rs 116.50, allowing for up to a 20 percent circuit limit. This notable performance has drawn heightened interest from investors, reflecting optimism surrounding the company’s strategic direction.

For Experts Recommendation Join Now

Details of the Zee Entertainment Agreement

Mukta Arts has signed a lucrative deal with Zee Entertainment for a limited term of five years, commencing from August 25, 2027. The agreement grants Zee the satellite and media rights for the company’s 37 films and represents a 25 percent increase in value compared to the previous contract. In addition to film production, Mukta Arts generates content for both television and OTT platforms and operates the Mukta A2 Cinema multiplex chain.

Financial Updates of Mukta Arts

Despite the positive news regarding stock performance and new agreements, Mukta Arts has reported mixed financial results. In the April-June 2024 quarter, the company’s consolidated revenue from operations fell to Rs 38.76 crore, down from Rs 40.42 crore during the same period last year. However, net profit has shown improvement, increasing to Rs 6.78 crore from Rs 3.80 crore in June 2023. It is also noteworthy that expenses rose slightly to Rs 47.87 crore from Rs 46.89 crore year-on-year.

Conclusion and Market Outlook

The recent surge in Mukta Arts’ stock price is a promising sign for investors, driven by strategic partnerships and solid financial maneuvers. As the company navigates the complex landscape of film production and digital content, its ability to adapt will be crucial. Investors are advised to monitor market trends closely and seek expert insights before making investment decisions, as market participation comes with inherent risks.

Disclaimer: The information provided in this article is for informational purposes only. Investing in the stock market carries risks, and it is essential for investors to conduct thorough research and consult with financial experts before making any investment decisions. Moneycontrol does not endorse any investment strategies.

Share This ➥
X