Mukta Arts to hive-off cinema biz into subsidiary; shares up 6%

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Moneycontrol BureauShares of Mukta Arts advanced nearly 6 percent intraday Thursday as it is going to consider hiving off its cinemas business.The meeting of the board of directors of the company will be held on November 10 to consider and approve unaudited quarterly financial results of the company for the quarter ended September 30, 2016.The board will also consider hiving off its cinemas business to a wholly owned subsidiary of the company.At 12:33 hrs Mukta Arts was quoting at Rs 121.45, up Rs 1.90, or 1.59 percent on the BSE.Posted by Rakesh Patil