Adlabs Entertainment extends rally; shares jump 12%

Shares of Adlabs Entertainment today extended the rally in the counter and settled with gains of 12 per cent at Rs 112.20 on BSE.
The stock has witnessed significant jump in its volume counter and has seen its share price rally by over 50 per cent in last few trading sessions.
The stock of the company today opened on a bullish note at Rs 106 rallying further to touch an intra-day high of Rs 117.3 and finally settling for the day at Rs 112.20, up 12 per cent, on BSE.
Similarly, on the NSE counter as well, where the stock opened at Rs 105, touched a high of Rs 117.45 and finally ended the day at 112.25.

The company in a letter to the stock exchange with regards to the increase in volume said that it has made all necessary disclosures and has not withheld any material information/event that would have a bearing on the volume behaviour of the scrip.
"The increase in the share price volume of the scrip is purely due to market conditions and absolutely market driven and the management of the company is in no way connected with any such increase in volume," the company said in a regulatory filing.

The uptick in the counter assumes significance as the broader market settled for the day in the negative territory.

The 30-share benchmark index, Sensex today settled at 28,294.28, down 373.94 points or 1.30 per cent.
The theme park operator Adlabs Entertainment had reported a standalone net loss of 19.23 crore for the first quarter of this fiscal.
The firm's total income from operation increased stood at Rs 85.95 crore during the period under review as against Rs 80.01 crore in the year-ago period.