Wonderla gains after clarification

Wonderla Holidays rose 2.39% to Rs 310.40 at 14:18 IST on BSE after the company in a clarification said it is considering Chennai as its next location for setting up an amusement park.

The announcement was made during market hours today, 24 November 2014.

Meanwhile, the S&P BSE Sensex was up 151.84 points or 0.54% at 28,486.47.

On BSE, so far 36,000 shares were traded in the counter as against average daily volume of 1.15 lakh shares in the past one quarter.

The stock hit a high of Rs 311.80 and a low of Rs 303.40 so far during the day. The stock had hit a record high of Rs 355.50 on 26 August 2014. The stock had hit a record low of Rs 156.50 on 9 May 2014.

The stock had underperformed the market over the past one month till 21 November 2014, sliding 3.78% compared with the Sensex's 6.62% rise. The stock had also underperformed the market in past one quarter, declining 2.62% as against Sensex's 7.49% rise.

The small-cap company has equity capital of Rs 56.50 crore. Face value per share is Rs 10.

Wonderla Holidays in a clarification with regard to media news item titled "Wonderla Plans to invest 550 Cr.on Two projects" said that it is considering Chennai as its next location for setting up an amusement park. The company is in the process of identifying a suitable parcel of land at Chennai. The company further said that the wording in the captioned news "identified land for the fourth park at Chennai" is incorrect. The company is looking at a similar sized project to be set up in Chennai, and this may be the reason that the Journalist has written about the investment size, Wonderla Holidays said in its clarification.

Wonderla Holidays' net profit jumped 46% to Rs 6.44 crore on 27% growth in net sales to Rs 34.32 crore in Q2 September 2014 over Q2 September 2013.

Wonderla Holidays is one of the largest operators of amusement parks in India.

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