Shares of Mukta Arts Ltd. rallied by 18% to reach a 52-week high of Rs 115 on 26th September, after the company signed a pact with Zee for the assignment of satellite and media rights for 37 films to Zee for a period of six years starting from 25th August 2027.

The company did not reveal the final deal amount but mentioned that the fee for the new agreement is 25% higher than the previous contract between Mukta Arts and Zee Entertainment.

Mukta Arts has maintained a long-standing partnership with Zee Entertainment, frequently licensing its films to the broadcaster. In 2021, the two companies entered into a deal for Subhash Ghai to produce three films for Zee Studios.

Under the leadership of Subhash Ghai, the company can take pride in a robust library that includes more than 42 films, including 35 hit films. The company generally engages in various areas of the entertainment industry such as film production, film distribution, and television content development. 

In addition to owning the studio AUDEUS, Mukta Arts rents out filmmaking equipment and has expanded into the distribution sector of the film industry. For the quarter ending June 2024, the company reported a net profit of Rs 98 lakh and net sales of Rs 7.02 crore.

So far in 2024, the stock has surged by almost 41%. The company’s market capitalisation rose significantly to Rs 252 crore.

At 12:44 PM, the shares of Mukta Arts were trading 14.07% higher at Rs 111.02 on NSE.

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