Cinemax India locked at 5% upper circuit on stake sale buzz
Shares of Cinemax India, one of the largest Exhibition theatre chains in India, were locked at 5 percent upper circuit on Friday after the promoters said they were evaluating options for the sale of their shares in the company.
November 23, 2012 / 14:43 IST
Shares of Cinemax India, one of the largest exhibition theatre chains in India, were locked at 5 percent upper circuit on Friday. The stock is rallying after the promoters said that they were evaluating options for the sale of their shares in the company.
According to media reports, PVR is a front runner for the stake sale. The company, however, also added that no definitive agreements have been finalised in this regard.At 13:53 hours IST, the stock rose 4.97 percent to touch a 52-week high of Rs 167.80 amid large volumes on the Bombay Stock Exchange.
There were pending buy orders of 30,120 shares, with no sellers available. Market capitalisation of the company currently stands at Rs 469.84 crore.
The stock has been rallied 160 percent in last one month and 16 percent in three days. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
