Mukta Arts hits 20% upper circuit

Mukta Arts has been seeing a lot of activity on its counter for the past couple of days. In fact on Friday too it had hit a new high at Rs.43.50 and today, it breached the 20% upper circuit and hit another new high at Rs.41.10.

All this major activity on the counter is on unconfirmed news that the Foxconn Technology, world’s largest contract maker of electronic gadgets and maker of Apple –i-Phones might pick up stake in either the company or its subsidiary. This connection with Foxconn is not something pulled out a hat, the company already got into a tie-up with its subsidiary – Whistling Woods International (WWI), which teaches film making, over the weekend for co-creation of content which can be used across media platforms. Thus news is rife that with Foxconn looking at things beyond only manufacture of hardware, it could pick up stake in either Mukta or WWI.

Under the current tie-up with WWI, it will be making content for Foxconn’s products which is why there is hope that this tie-up could get translated into an equity stake too.