Wonderla Holidays share price surges 14.5% after QIP launch with floor price of ₹829.74 apiece | Stock Market News

Wonderla Holidays share price surged 14.5% on Wednesday’s session after the firm has launched its Qualified Institutions Placement (QIP) issue today with a floor price of ₹829.74 per share. Wonderla Holidays share price today opened at an intraday low of ₹842.60 apiece on BSE, the stock touched an intraday high of 947.95 per share.

Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, said that Wonderla Holidays share prices have surged more than 12% in today’s session. On the weekly chart, we are seeing a range breakout backed with strong volumes. Traders holding longs can continue to ride the trend, expecting levels of 1,050. Fresh entrants should wait for some dips. Strong support is placed around the880 – 870 zone.

According to Trendlyne data, Wonderla Holidays is currently trading up 13.59% on an intraday basis. Over the past week, the stock has increased by 11.60%. In the last quarter, it rose by 11.41%, but it has declined by 2.72% over the past year.

Q2 Results 

Wonderla Holidays recently announced its Q2 results for the period ending November 5, 2024, and the performance reflected as a mixed bag. On one hand, the company reported an impressive year-on-year profit increase of 8.85%. On the other hand, the topline revenue experienced a notable decline of 10.35%, as reported by livemint.

In the second quarter (Q2FY25), the company achieved the second-highest revenue since its inception. During this period, the firm recorded a total of 451,000 visitors. Specifically, Bangalore Park had 196,000 visitors, Kochi Park had 139,000, Hyderabad Park had 92,000, and Bhubaneswar Park had 24,000 visitors.

“Wonderla’s achievement of its second-highest Q2 revenue since inception highlights the brand’s resilience and appeal, even in a dynamic market environment. This quarter’s footfall of 4.51 lakh reflects our dedicated efforts across Bangalore, Kochi, Hyderabad, and Bhubaneswar, despite challenges from shifting consumer preferences and natural disruptions, including landslides in Kerala and floods in Andhra Pradesh and Telangana. Each park made significant contributions, underscoring Wonderla’s regional strength and the sustained popularity of our offerings,” said Arun K Chittilappilly, Managing Director, Wonderla Holidays.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.