Subhash Ghai’s Mukta Arts shares hit 52-week high after inking a deal of 37 films with Zee

On the NSE, as the the equity hit a high of ₹115 was up 18.15% against the previous close of ₹97.33

As of 9:49 am, the equity was trading at ₹113.19, up by 16.3% or ₹15.86 on the NSE and at ₹112.28 (+15.65%) on the BSE.

Mukta Arts had opened at ₹105 and ₹104 on NSE and BSE on Thursday. On Wednesday the shares of the entertainment firm soared 20% in intraday trade on both NSE and BSE reaching a high of ₹97.33 and ₹97.09, respectively.

The share surge occurred after Mukta Arts revealed in a regulatory filing with the BSE on Tuesday, September 24 that “Assignment Agreement and Term Sheet has been executed between the Company and Zee Entertainment Enterprises Limited (Zee).”

Mukta Arts-Zee deal

Subhash Ghai’s entertainment company inked a pact with Zee for the assignment of Satellite and media rights of 37 films to the latter for a period of six years commencing from August 25, 2027.

Although the company did not disclose the final deal amount, they revealed that the deal was made at a fee 25% higher than the last agreement between the two companies.

The entertainment company helmed by Subhash Ghai has a long history of working with Zee.

Mukta Arts has had a long-standing partnership with Zee, frequently licensing its films to the broadcaster. In 2021, the two companies signed a deal wherein Subhash Ghai would produce three films for Zee Studios.

The company boasts an impressive library of more than 42 films, including 35 blockbusters.

Helmed by the Hindi film personality Subhash Gill, Mukta Arts is an entertainment company with its arms delving into almost every aspect of the industry from film production and distribution, television content creation, to equipment hiring for filmmaking.

Mukta Arts not only owns the studio AUDEUS but is also involved in renting out filmmaking equipment. Further, the company has diversified its operations, delving its arms into the distribution sector of the film industry.

The company had clocked in a net profit of ₹0.98 crore in the quarter-ended June of FY25 while presenting net sales of ₹7.02 crore in the same period.

Mukta Arts boasts a total market capitalisation of ₹255.64 crore as of September 26, 2024, according to the NSE.