Why Are Wonderla Shares Trading At An All-Time High?
Take Stock Of The Week Ahead

Get all the latest Share Market trends and news to set you up for the week ahead.

Shares of Amusement park operator Wonderla Holidays shot up over 4% to a record high on Monday after the company got a massive tax break for a project in Tamil Nadu.

What Happened? Wonderla said on Friday that the government of Tamil Nadu had granted it a significant waiver of the local body tax for 10 years after persistent efforts by the company seeking the waiver.

The waiver will likely provide a material boost to the business. However, the company will have to begin commercial operations at the site within two years to receive the tax waiver.

See Also: TCS Chosen To Give UK’s 2nd Largest Public Sector Pension Scheme A Digital Makeover

Wonderla currently has amusement parks in Bengaluru, Hyderabad and Kochi. It is also looking to set up a new park in Bhubaneshwar by 2025.

Price Action: Wonderla’s share price was trading 4.03% higher at ₹542 in afternoon trade on Monday.

Read Next: Amazon Marks 10 Years In India With Seller Fee Cut, Big Future Plans

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Comments
Loading...