Mukta Arts shares extend rally, jump 8.5%

Extending its rally for the second straight session today, shares of production house Mukta Arts soared 8.5 per cent following the company's plans to transfer entire business of cinema division to its wholly-owned subsidiary Mukta A2 Cinemas.
The scrip surged 8.52 per cent to settle at Rs 110.85 on BSE. Intra-day, it jumped 15.51 per cent to Rs 118 - its 52-week high.
At NSE, shares of the company gained 8.34 per cent to close at Rs 111.05.
In terms of volume, 6.54 lakh shares of the company were traded on BSE and more than 20 lakh shares changed hands on NSE during the day.

Shares of Mukta Arts had surged 20 per cent in the previous session also.
The company will hold a board meeting on September 29 to consider and get approval for slump sale through a business transfer agreement, Mukta Arts informed BSE on Monday.
"A meeting of the Board of Directors will be held on September 29, 2016 to consider and approve the transfer of entire business of cinema division as a going concern to its newly formed wholly-owned subsidiary Mukta A2 Cinemas," it said.
Mukta A2 Cinemas has 41 screens in India.