ajanta pharma: Market drivers: why Ajanta Pharma and Meghmani Organics increased up to 12%

NEW DELHI: Bonus issues tend to have positive share price reactions, at least when announced. The same thing happened on Monday when Ajanta Pharma said its board will consider issuing bonus shares to shareholders.

The company in a regulatory filing said that the Company’s Board of Directors will meet on Tuesday, “May 10, 2022 to, among other things, consider… the issuance of bonus shares subject to the approval of the company’s shareholders.” “.

The board will also consider March quarter earnings during the meeting.

Following the update, shares in Ajanta Pharma soared 5 percent to Rs 1,803.50.

good show

Shares of Meghmani Organics jumped more than 12 percent on Monday after the company impressed investors with a strong financial performance in the March quarter.

The company said its consolidated profit for the quarter nearly tripled to Rs 102 crore. The company’s revenue also saw a strong rise to Rs 838.41 crore, the firm said.

The company is dedicated to the manufacture of pigments and agrochemicals, among other chemical products.

Better in anvil?

Inox Leisure said its losses have shrunk to around a third during the latest quarter. It reported a net loss of Rs 28 crore compared to the Rs 94 crore the company reported in the prior year quarter. In the same period, their total income also tripled.

The firm said that Inox witnessed a promising response in the fourth quarter from blockbusters such as Valimai, Bheemla Nayak, Gangubai Kathiawadi, The Kashmir Files, Radhe Shyam and RRR. PTA stood at Rs 218, per capita expenditures stood at Rs 86, while occupancy stood at 24%.

11 million guests visited INOX theaters in the fourth quarter of fiscal year 22. In March 2022, the company reported its highest box office and F&B takings in a single month as the situation normalized across the country.

However, the shares fell more than 2 percent to Rs 492 as traders booked profits.

“With the ‘worst’ behind us and the ‘best’ on the anvil, we look forward to FY23 with great enthusiasm and preparation to ensure we continue to delight all of our shareholders and resume our history of profitability. Our performance in the fourth quarter shows that meticulous efforts can not only protect your business from adversity, but also help you achieve miraculous results,” said Siddharth Jain, Director of INOX Leisure.

“With fourth quarter records broken with such ease and poise, we are optimistic about the future of the business and are confident that the proposed merger with

it will achieve magical results for the merged entity, as well as for the cinema exhibition industry”.

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