Wonderla Holidays Shares Hit a Thrilling 52-Week High After Project Approvals and Clearances

Today, shares of Wonderla Holidays Ltd, a company engaged in the business of amusement parks and resorts, reached a 52-week high at Rs 887.70 after successfully obtaining all the necessary approvals, clearances, and NOCs from the Government of Tamil Nadu for its Chennai project. This achievement has positioned the company to commence construction of the project.

Regarding the Chennai Project, Wonderla is set to unveil a stunning amusement park located 45 kilometers away from Chennai, nestled along the scenic Old Mahabalipuram Road. This enchanting destination will be situated in the charming village of Illalur, just 2 kilometers from the OMR highway. The grand vision for this project involves a substantial investment of approximately 400 crores, spanning across a sprawling 62-acre expanse in Illalur village, within the Thiruporur taluk of Chengalpet district.

The company further adds that the upcoming amusement park promises to be an iconic addition to the company’s expansion plans. It is poised to be a shining jewel in the organization’s crown, offering a remarkable recreational experience to visitors.

In the last trading session, the scrip closed at Rs 808.40. Today, it opened at Rs 808.05, and it is currently trading at Rs 857.25, up by 6.28%. The company’s shares reached a fresh 52-week high today at Rs 887.70, with a 52-week low at Rs 315.50. The company currently boasts a market capitalization of approximately Rs 4,860 crore, with shares having generated a staggering return of 100.54% in the past six months and a one-year multi bagger return of 137.44%.

Wonderla Holidays is one of the largest operators of amusement parks in India. It currently owns and operates three amusement parks under the brand name Wonderla, situated in Kochi, Bengaluru, and Hyderabad. It also operates a resort under the brand name Wonderla Resort, located in Bengaluru.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.