Mukta Arts jumps 11% on order from Zee Entertainment

Mukta Arts rallied as much as 16.6 percent intraday on Monday after receiving order worth Rs 25 crore order from Zee Entertainment.
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Jan 21, 2013, 08.36 PM | Source: Moneycontrol.com

Mukta Arts jumps 11% on order from Zee Entertainment

Mukta Arts rallied as much as 16.6 percent intraday on Monday after receiving order worth Rs 25 crore order from Zee Entertainment.

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Mukta Arts jumps 11% on order from Zee Entertainment

Mukta Arts rallied as much as 16.6 percent intraday on Monday after receiving order worth Rs 25 crore order from Zee Entertainment.

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Mukta Arts  rallied as much as 16.6 percent intraday on Monday after receiving order worth Rs 25 crore order from Zee Entertainment.

Company entered into a contract with Zee Entertainment Enterprises for the assignment of satellite and other electronic rights of its 35 films for 5 years from the dates on which current satellite rights expire.

"The Deal is for Rs 250 million plus applicable taxes. The entire deal amount is being paid during the Calendar year 2013. However, the revenue from the deal will be recognised in the profit & loss account, of the company based on the dates on which the rights commence for each film," Mukta Art said.

Shares rose 11.43 percent to close at Rs 42.40 amid large volumes on Bombay Stock Exchange.

Trading volumes increased quite significantly to 73,478 equity shares as compared to five day average of 1,426 shares. Market capitalisation of the company currently stands at Rs 95.74 crore.

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