Balaji Telefilms rose 6.32% to Rs 116 at 11:33 IST on BSE on reports that the company's controversial film, Udta Punjab, is set to release on its scheduled date.
Meanwhile, the BSE Sensex was up 4.69 points, or 0.02%, to 26,401.46.
On BSE, so far 96,000 shares were traded in the counter, compared with an average volume of 30.20 lakh shares in the past one quarter. The stock hit a high of Rs 119.50 and a low of Rs 113 so far during the day. The stock hit a 52-week high of Rs 150.40 on 23 November 2015. The stock hit a 52-week low of Rs 65.25 on 16 June 2015. The stock had underperformed the market over the past one month till 13 June 2016, falling 4.63% compared with 3.56% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 4.25% as against Sensex's 7.52% rise.
The small-cap company has an equity capital of Rs 15.19 crore. Face value per share is Rs 2.
According to reports, the Bombay High Court has cleared release of the Hindi movie, Udta Punjab, with just one cut. The movie, slated for release on 17 June 2016, will be screened with an 'A' certificate.
The film is produced by Shobha Kapoor and Ekta Kapoor under their banner Balaji Motion Pictures in association with Phantom Films. It features Shahid Kapoor, Kareena Kapoor, Alia Bhatt and Diljit Dosanjh in the lead roles.
A Division Bench comprising Justices SC Dharmadhikari and Shalini Phansalkar, reportedly directed the Central Board of Film Certification (CBFC) to certify the movie within 48 hours and asked the production house to modify the disclaimer. The movie is largely based on a cardinal issue, drugs, in the Punjab.
Phantom Films, co-owned by Anurag Kashyap, had moved to the Bombay High Court after the CBFC had ordered the deletion of a number of scenes because they contained violence and expletives.
Media reports suggested that the controversy could make the movie Shahid Kapoor's highest grosser ever.
On a consolidated basis, Balaji Telefilms reported net loss of Rs 13.20 crore in Q4 March 2016 compared with net profit of Rs 9.59 crore in Q4 March 2015. Net sales rose 6.8% to Rs 82.16 crore in Q4 March 2016 over Q4 March 2015.
Balaji Telefilms produces Indian soap operas, reality TV, comedy, game shows, entertainment and factual programming in several Indian languages.
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