Multiplex chain operator PVR lost ground for the second consecutive session on Thursday, losing 4 percent due to profit booking.
The stock had rallied more than 36 percent in four consecutive sessions since the announcement of stake buy in Cinemax India . PVR had agreed to buy promoters' 69.27 percent stake in Cinemax for about Rs 395 crore and further, its board has also approved purchase of up to 26 percent in Cinemax via an open offer to public shareholders last week.
Yesterday Nitin Sood, chief financial officer, PVR had told CNBC-TV18 that the combined leverage of both PVR and Cinemax would be around Rs 600 crore once the entire transaction is over.
He further added that with the Cinemax deal, PVR will now have presence in 36 cities across the country. PVR expects to clock in revenue of Rs 700 crore in FY13 and targets a topline of Rs 1,300-1,500 crore top line in 24 months.
Today the board of directors have approved borrowing funds up to Rs 1,000 crore.
At 12:25 hours IST, the stock fell 3.82 percent to Rs 308.40 on the Bombay Stock Exchange. Yesterday it lost 2.2 percent to close at Rs 320.65. Market capitalisation of the company currently stands at Rs 932.42 crore.
PVR stock price
On November 27, 2015, PVR closed at Rs 848.50, up Rs 14.65, or 1.76 percent. The 52-week high of the share was Rs 888.90 and the 52-week low was Rs 572.00.
The company's trailing 12-month (TTM) EPS was at Rs 19.69 per share as per the quarter ended September 2015. The stock's price-to-earnings (P/E) ratio was 43.09. The latest book value of the company is Rs 86.63 per share. At current value, the price-to-book value of the company is 9.79.
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