Adlabs Entertainment soars about 48% in four sessions

Adlabs Entertainment rose 13.57% to Rs 113.80 at 14:49 IST on BSE, extending recent gains on strong buying support.

Meanwhile, the BSE Sensex was down 355.91 points, or 1.24%, to 28,312.31.

Volume was high on the counter. On BSE, so far 26.25 lakh shares were traded in the counter, a 20.52-fold surge over two-week average daily volume of 1.28 lakh shares. The stock hit a high of Rs 117.30 and a low of Rs 102.40 so far during the day. The stock hit a 52-week high of Rs 145.40 on 31 December 2015. The stock hit a record low of Rs 68 on 29 February 2016. The stock had outperformed the market over the past 30 days till 23 September 2016, rising 25.17% compared with 2.99% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 31.58% as against Sensex's 8.60% rise.

The small-cap company has equity capital of Rs 79.90 crore. Face value per share is Rs 10.

Shares of Adlabs Entertainment have risen 47.79% in four trading sessions from its close of Rs 77 on 20 September 2016.

Adlabs Entertainment clarified during trading hours today, 26 September 2016, that the increase in the share price and volume of the company's stock is market driven and the management of the company is in no way connected with any such increase in volume. The company has not withheld any material information that would have a bearing on the scrip, it added.

Adlabs Entertainment reported net loss of Rs 19.23 crore in Q1 June 2016, higher than net loss of Rs 15.52 crore in Q1 June 2015. Net sales rose 7.25% to Rs 83.10 crore in Q1 June 2016 over Q1 June 2015.

Adlabs Entertainment operates the Imagica theme park located at Khalapur, off the Mumbai-Pune express highway.

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