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Wednesday, Apr 17, 2002

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Mukta Arts up on library rights talk

THE stock of Mukta Arts moved up by 14 per cent on market talk that the entertainment company has wrapped up the sale of rights of its library to a leading broadcaster.

The company has been in talks with broadcasters for the sale of rights of its 11 films. Deals earlier fell through on price issue. Market talk indicated that the company might have clinched the sale for around Rs 15-16 crore to Sony Entertainment Television (SET).

However, confirmation about the transaction could not be obtained from either Mukta or SET. Films, that form a part of Mukta Arts library include, Hero, Karma, Trimurti, Saudagar, Khalnayak, Pardes, Taal and Yaadein.

For Mukta, the sale of its library right would translate to pure profits, which augurs well for the stock price.

Fulford India rides on buyback rumour

PHARMACEUTICAL company Fulford India has been rising steadily in the last few days. The stock has gained almost 25 per cent since April 9 when it was at Rs 135 levels. Market sources say that the parent company could be contemplating a buyback offer.

Dealers say that the talk in the market is that the offer could be priced in the range between Rs 330 and Rs 350. The parent company holds a majority stake of about 60 per cent in Fulford India.

On Tuesday, the stock went up by 10 per cent to close at Rs 173.70.

Aparna Krishnan
Latha Venkatraman

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