Market movers: Why Ajanta Pharma & Meghmani Organics surged up to 12%

NEW DELHI: Bonus issues usually have positive reactions on the stock prices, at least when they are announced. The same happened on Monday when Ajanta Pharma said its board will be considering issuing bonus shares to shareholders.The company in a regulatory filing said the Board of Directors of the Company will meet on Tuesday, “10th May 2022 to inter-alia consider…issue of bonus shares subject to approval by the shareholders of the company.”The board will also consider March quarter earnings during the meeting.Following the update, shares of Ajanta Pharma spiked 5 per cent to Rs 1,803.50.Good showShares of Meghmani Organics surged over 12 per cent on Monday after the company impressed investors with a strong financial show in the March quarter.The company said its consolidated profits for the quarter nearly tripled to Rs 102 crore. The revenue of the company has also seen a sharp jump to Rs 838.41 crore, the firm said.The company is involved in manufacturing pigments and agrochemicals, among other chemicals. Best on anvil?Inox Leisure said its losses have come down to about a third during the last quarter. It reported a net loss of Rs 28 crore compared to Rs 94 crore the company reported in the year ago quarter. In the same period, its total income also soared three-fold.The firm said Inox witnessed a promising response in Q4 for blockbuster movies like Valimai, Bheemla Nayak, Gangubai Kathiawadi, The Kashmir Files, Radhe Shyam and RRR. ATP stood at Rs 218, Spends Per Head stood at Rs 86 whereas occupancy stood at 24%.11 million guests visited INOX cinemas in Q4 FY22. In March 2022, Company reported its highest ever Box Office and F&B collection in a single month as the situation normalised across the country.However the stock fell over 2 per cent to Rs 492 as traders booked profits. “With the ‘worst’ behind us, and the ‘best’ on the anvil, we are looking forward to FY23 with a lot of excitement and preparedness to make sure that we continue to delight all our stakeholders and resume our profitability story. Our performance in Q4 shows that meticulous efforts can not only safeguard your business from adversities, but also help you deliver miraculous results,” said Siddharth Jain, Director – INOX Leisure.“With records being smashed in Q4 with such ease and poise, we feel upbeat about the future of the business, and are certain that the proposed merger with PVR will fetch magical results for the merged entity, as well as for the cinema exhibition industry.”

Market movers: Why Ajanta Pharma & Meghmani Organics surged up to 12%
NEW DELHI: Bonus issues usually have positive reactions on the stock prices, at least when they are announced. The same happened on Monday when Ajanta Pharma said its board will be considering issuing bonus shares to shareholders.The company in a regulatory filing said the Board of Directors of the Company will meet on Tuesday, “10th May 2022 to inter-alia consider…issue of bonus shares subject to approval by the shareholders of the company.”The board will also consider March quarter earnings during the meeting.Following the update, shares of Ajanta Pharma spiked 5 per cent to Rs 1,803.50.Good showShares of Meghmani Organics surged over 12 per cent on Monday after the company impressed investors with a strong financial show in the March quarter.The company said its consolidated profits for the quarter nearly tripled to Rs 102 crore. The revenue of the company has also seen a sharp jump to Rs 838.41 crore, the firm said.The company is involved in manufacturing pigments and agrochemicals, among other chemicals. Best on anvil?Inox Leisure said its losses have come down to about a third during the last quarter. It reported a net loss of Rs 28 crore compared to Rs 94 crore the company reported in the year ago quarter. In the same period, its total income also soared three-fold.The firm said Inox witnessed a promising response in Q4 for blockbuster movies like Valimai, Bheemla Nayak, Gangubai Kathiawadi, The Kashmir Files, Radhe Shyam and RRR. ATP stood at Rs 218, Spends Per Head stood at Rs 86 whereas occupancy stood at 24%.11 million guests visited INOX cinemas in Q4 FY22. In March 2022, Company reported its highest ever Box Office and F&B collection in a single month as the situation normalised across the country.However the stock fell over 2 per cent to Rs 492 as traders booked profits. “With the ‘worst’ behind us, and the ‘best’ on the anvil, we are looking forward to FY23 with a lot of excitement and preparedness to make sure that we continue to delight all our stakeholders and resume our profitability story. Our performance in Q4 shows that meticulous efforts can not only safeguard your business from adversities, but also help you deliver miraculous results,” said Siddharth Jain, Director – INOX Leisure.“With records being smashed in Q4 with such ease and poise, we feel upbeat about the future of the business, and are certain that the proposed merger with PVR will fetch magical results for the merged entity, as well as for the cinema exhibition industry.”