Cinemax off 52-week high, PVR buys shares via block deals
Shares of Cinemax India gained as much as one percent to touch a fresh 52-week high of Rs 202.65 in early trade on Tuesday following two block deals by PVR, but it came off day's high on profit booking.
January 08, 2013 / 15:18 IST
Shares of Cinemax India gained as much as one percent to touch a fresh 52-week high of Rs 202.65 in early trade on Tuesday following two block deals by PVR, but it came off day's high on profit booking.
More than 1.86 crore equity shares have changed hands via two block deals on Bombay Stock Exchange in opening trade today. Both deals valued at Rs 373.91 crore.PVR the new owner of the company said Cine Hospitality Private Limited, a wholly owned subsidiary of the company, has purchased controlling stake in the share capital of Cinemax India through a block deal executed on the floor of the stock exchange on January 08, 2012. After acquisition of shares, Ajay Bijli and Sanjay Khanna are non-independent directors while Sanjeev Kumar is a non-independend director of Cinemax.At 13:47 hours IST, the share was down 1.07 percent to Rs 198.50. Market capitalisation of the company currently stands at Rs 555.80 crore.
In November 2012, PVR had entered into definitive agreements to acquire 69.27 percent stake in Cinemax India Limited (Cinemax), a Kanakia Group entity that operates movie exhibition business in India.Also Read
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