Wonderla Holidays Share Price Rises on Strong Q2 Results, Increased Target Price
Shares of Wonderla Holidays, an amusement park company, rose by 0.71% to reach Rs 633.40 on the Bombay Stock Exchange (BSE) on September 15, 2023. The stock saw a surge in trading volumes, with 3 lakh shares being exchanged.
The company’s share price has been on an upward trend in recent months, giving a return of 49.79% in the last 6 months and 80.30% year-to-date.
The latest price movement comes after the company reported its highest-ever quarterly revenue, EBITDA and net profit in the June quarter. Revenue increased by 24% year-on-year to Rs 184.6 crore, while EBITDA went up by 30% to Rs 122.5 crore. Net profit increased by 31% to Rs 84.47 crore.
The company attributed the strong performance to higher footfalls and increased ticket prices. It also said that it is focusing on increasing retail footfalls and non-ticketing revenues.
Share Khan, a brokerage firm, has maintained its “buy” rating for the stock and increased its target price to Rs 750. The broker raised its earnings estimate for FY2024 and 25 by 5-6% due to higher-than-expected ARPUs and EBITDA margins.
The company is also expanding its operations. It has started construction of a new park in Odisha and is expected to start construction of a park in Chennai soon.
The strong performance of Wonderla Holidays’ shares is a positive sign for the amusement park industry. The company is well-positioned to benefit from the growing demand for amusement parks in India.
Here are some additional points that I would like to add to the article:
- The company’s strong performance is also being driven by the reopening of the economy and the increasing disposable income of Indians.
- The company is also benefiting from the government’s focus on tourism.
- The company is expected to continue to grow in the coming years, driven by the factors mentioned above.
Related News
- 22 Sep
NBCC shares trade higher on Rs 100 crore work order from SAIL
NBCC shares were trading 3 percent higher on September 22 after the company announced having bagged a work order worth Rs 100 crore from SAIL. This is the fourth order-win announced by the company in this month, the total value of the same being Rs 450 crore. NBCC is a public sector undertaking engaged in the business of construction and real estate development. The company specializes in providing project management, consultancy and engineering services for civil construction, infrastructure development, and real estate projects.
- 22 Sep
Glenmark Pharma stock falls on stake sale in Glenmark Life Sciences
Glenmark Pharma stock fell after the company announced it would sell a 75% stake in its subsidiary Glenmark Life Sciences to Nirma. Analysts expect the stake sale to benefit Glenmark Pharma, as it will transition from a net debt position to a cash surplus position. This is expected to have a positive impact on the company's return ratios over the next two to three years.
- 22 Sep
Berger Paints Shares Hit 52-Week High After Turning Ex-Bonus
Berger Paints shares surged 6% to hit a 52-week high after turning ex-bonus on the record date for the issue of bonus shares in the ratio 1:5. The company posted a net profit of Rs 326.3 crore in the April-June quarter of FY24, up 39% year-on-year, on revenue of Rs 2,739.7 crore, up 10% year-on-year. The company expects to get net cash positive by the end of this fiscal year and expects to end the year with double-digit revenue growth on strong demand outlook.
- 22 Sep
Market Update for September 22, 2023
IdeaForge Tech up 3.4% on order RVNL up 3% on highway MoU JSW Steel up 0.4% on sale ICICI Lombard down 1.6% on CEO exit ICICI Bank down 1% on healthcare investment NHPC up 1.3% on extended additional charge Kalyani Forge up 3.2% on new MD IRB Infra up 2.5% on road project closure
- 22 Sep
Lux Industries Shares Down 3% After Income Tax Raid
Lux Industries shares fell 3% on September 22 after news emerged that the Income Tax department had conducted searches at the company's premises in Kolkata and alleged a tax evasion of Rs 200 crore. The company has confirmed the searches and is extending full support.
Leave a Reply