Smallcap Stock Below Rs 100: Share price of Imagicaaworld Entertainment Ltd. fell nearly 4% in early trade on Thursday, Sept. 17 after the theme park company announced on Wednesday that it will sell its five-star resort 'Novotel Imagica' to Juniper Hotels Ltd. for Rs 248 crore. The proceeds from the sale are intended to help Imagicaaworld meet its long-term capital requirements.
On Thursday, shares of Imagicaaworld Entertainment Ltd. opened at Rs 53.30 against a previous close of Rs 52.99 and extended losses to hit an intraday low of Rs 50.70 apiece so far during the session. The smallcap stock, currently prices under Rs 100 last traded 3.55% lower at Rs 51.11 apiece on the NSE. This compares to a rise of 0.36% in the Nifty 50 benchmark. The company commands a market cap of Rs 2,892.12 crore, according to stock exchaneg data.
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