Mukta Art's arm to launch two multiplexes shortly

Mukta Arts Limited rose by over 2% as the company reported that its wholly-owned subsidiary Mukta A2 Cinemas Limited is completing the fit-out work for two screen multiplex at Ahmedabad, Gujarat and four screen multiplex at Karimnagar, Andhra. Both of these multiplexes are expected to be operational by Dussehra this year.

The company also informed that work is in progress at other places like Pune, Gurgaon. The company is also negotiating terms to operate existing theatres which can be refurbished and re-luanched soon.

The stock was trading at Rs 102.90 on BSE at 1210 hours. The scrip touched its intraday high and low at Rs 105 and Rs 101, respectively. It opened at Rs 102.10, while on Friday it closed at Rs 101.90.

Stock View:
Mukta Arts Ltd is currently trading at Rs 103.25, up by Rs 1.35 or 1.32% from its previous closing of Rs 101.9 on the BSE.

The scrip opened at Rs 102.1 and has touched a high and low of Rs 105 and Rs 101 respectively. So far 289118(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 230.1 crore.

The BSE group 'B' stock of face value Rs 5 has touched a 52 week high of Rs 132.5 on 18-Oct-2016 and a 52 week low of Rs 61.35 on 16-Aug-2016. Last one week high and low of the scrip stood at Rs 108 and Rs 100.75 respectively.

The promoters holding in the company stood at 70.37 % while Institutions and Non-Institutions held 0.06 % and 29.57 % respectively.

The stock is currently trading above its 50 DMA.