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Feb 6 2007 12:00AM
Shringar surges on fiscal boost
Shringar Cinemas surged about 10 per cent to Rs 73.5 on volumes of over 2.5lakh, following the news that its Fame Multiplex in Aurangabad had receivedentertainment tax exemption, which will be availed by the multiplex fromFebruary 6. Under the policy, the multiplex will enjoy 100 per centexemption for the first three years and 75 per cent exemption of theprescribed rate for the subsequent two years. The entertainment tax of themultiplex from December 1, 2006, to February 1, 2007, was Rs 14.34 lakh.Though the stock has been a losing investment, falling nearly 5 per cent,it has shown a sustained rise in the past month.|
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