Mukta Arts Ltd saw a remarkable rise in its share price on Thursday, with the stock gaining over 15%. This surge has contributed to a nearly 40% increase in the share price over the last five trading sessions.
Investors keen to buy shares online are now paying close attention to Mukta Arts’ performance in the stock market.
Mukta Arts and Zee Entertainment's strategic partnership
The significant boost in Mukta Arts' share price can be attributed to a new partnership between Mukta Arts and Zee Entertainment Enterprises. Both companies have entered into a 6-year agreement, focusing on the assignment of satellite and media rights for 37 films.
This deal, officially announced by Mukta Arts in a stock exchange release on September 24, 2024, is expected to commence on August 25, 2027. The total consideration for this deal will be 25% higher than the previous agreement, making it a lucrative partnership for both parties.
This development has sparked investor interest, with many choosing to buy shares online to capitalise on the potential growth stemming from this deal.
Agreement and its impact on business operations
According to Mukta Arts, this agreement with Zee Entertainment is part of its regular business activities and will not affect the company’s management. The market has responded positively to this news, as seen in the stock's strong performance over recent days.
Investors looking to buy shares online are likely factoring in the positive implications of this partnership for Mukta Arts’ long-term business strategy.
Thursday’s trading highlights
On Thursday, Mukta Arts shares opened at ₹104.00 on the BSE, a 7% increase from the previous close of ₹97.09. The stock then surged further, reaching an intraday high of ₹115.08. This marked the stock's highest point in the last 52 weeks. With the share price continuing to rise, many traders and investors are seeking opportunities to buy shares online, anticipating further gains.
The consistent upward trend over the past five trading sessions, where the stock has risen nearly 40%, reflects growing confidence in Mukta Arts’ future prospects.
Mukta Arts’ strong financial performance
For the fiscal year ending on March 31, 2024, Mukta Arts reported a revenue of ₹209 crore from its operations. The company’s diverse portfolio, which includes TV and OTT content creation as well as its multiplex chain, Mukta A2 Cinemas, has contributed to its steady financial growth.
The rising share price and strong financials have led more investors to consider Mukta Arts a favourable option when looking to buy shares online.
Zee Entertainment’s performance in the stock market
Zee Entertainment Enterprises, Mukta Arts’ partner in the 6-year agreement, has also seen its share price rise by 6-7% over the past five trading sessions. In the quarter ending June 30, 2024, Zee Entertainment reported a consolidated total income of ₹2149.52 crore, a 7.57% increase compared to the same quarter last year. However, this was a slight 1.64% decrease from the previous quarter.
With both companies demonstrating financial resilience and growth, the stock market has shown increased interest in these entertainment giants. Investors who want to buy shares online are closely watching both Mukta Arts and Zee Entertainment for potential opportunities.
Invest in Mukta Arts now: Buy shares online for future growth
Mukta Arts Ltd's recent surge in share price reflects the market’s positive response to its strategic partnership with Zee Entertainment. As the stock continues to rise, many investors are opting to buy shares online, anticipating further growth in the coming months.
With a solid financial base and a promising future, Mukta Arts is becoming an attractive investment option for those seeking to capitalise on the entertainment industry’s expansion.
For android only