The Sensex is down 323.88 points or 1.32 percent at 24232.21 and the Nifty is down 98.35 points or 1.34 percent at 7231.30. About 1329 shares have advanced, 1583 shares declined, and 115 shares are unchanged. Infosys, Wipro, BHEL, ONGC and Cipla are top losers in the Sensex. Among the gainers are Hindalco, M&M, Dr Reddy's Labs, TCS and Sun Pharma.
Wonderla Holidays expects margins to be stable from hereon, says Arun K Chittilapilly, MD of the company. The company reported margins of around 41 percent and a net profit of around 60 percent at Rs 7.2 crore year-on-year. In the near-term, the company hopes to continue with its growth momentum due to reduction in cost from mature projects. The amusement park operator does not foresee any margin pressure for another couple of years, says Chittilapilly. Chittilapilly also says that the annual ticket price hike of around 10 percent for the amusement parks is unlikely to impact the business of the company given the base fare of the tickets is low. "If our ticket prices were Rs 1,000-1,500 then 10 percent hike would have made it a lot more expensive. However, as it stands now, we feel our ticket prices are pretty reasonable. So a 10 percent hike will not affect footfalls and that is at least what we have seen," he adds. Currently, the company has a debt of around Rs 15 crore.
Ever since Narendra Modi took charge as the Prime Minister of India on Monday, market has been consolidating, indicating caution ahead of a couple of big events lined-up in the next few weeks. The Reserve Bank of India policy on June 3 and the Union Budget are the key events to watchout. Sanjay Sachdev, chairman, Zyfin Capital believes market has not fizzled out as the Sensex has moved from 21000 to 24000, gaining almost 15 percent. However, he says foreign investors haven’t participated fully and are still waiting for a very big opportunity like resolving of the Vodafone tax issue, which may restore some confidence among them.
Wonderla Holidays expects margins to be stable from hereon, says Arun K Chittilapilly, MD of the company. The company reported margins of around 41 percent and a net profit of around 60 percent at Rs 7.2 crore year-on-year. In the near-term, the company hopes to continue with its growth momentum due to reduction in cost from mature projects. The amusement park operator does not foresee any margin pressure for another couple of years, says Chittilapilly. Chittilapilly also says that the annual ticket price hike of around 10 percent for the amusement parks is unlikely to impact the business of the company given the base fare of the tickets is low. "If our ticket prices were Rs 1,000-1,500 then 10 percent hike would have made it a lot more expensive. However, as it stands now, we feel our ticket prices are pretty reasonable. So a 10 percent hike will not affect footfalls and that is at least what we have seen," he adds. Currently, the company has a debt of around Rs 15 crore.
Ever since Narendra Modi took charge as the Prime Minister of India on Monday, market has been consolidating, indicating caution ahead of a couple of big events lined-up in the next few weeks. The Reserve Bank of India policy on June 3 and the Union Budget are the key events to watchout. Sanjay Sachdev, chairman, Zyfin Capital believes market has not fizzled out as the Sensex has moved from 21000 to 24000, gaining almost 15 percent. However, he says foreign investors haven’t participated fully and are still waiting for a very big opportunity like resolving of the Vodafone tax issue, which may restore some confidence among them.
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