This Ranbir Kapoor-backed stock hits 10% upper circuit on large block deal

Ranbir Kapoor

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

live

• bselive
• nselive

Volume

Todays L/H

More

×

The shares of Ranbir Kapoor-backed Prime Focus surged 10 percent on September 5 to hit the upper circuit at Rs 158.37 apiece. This comes after more than 1.5 percent stake in the company changed hands in a large block deal, as reported by CNBC-TV18.

Around 47.5 lakh shares, representing 1.53 percent equity stake in the company, changed hands in the block deal window, CNBC-TV18 reported.

Prime Focus shares gathered investors' attention in July this year after the release of the much-anticipated teaser of the movie 'Ramayana'. Ranbir Kapoor invested Rs 15-20 crore in the Prime Focus Studio, according to multiple reports. The company earlier had approved a preferential issue of over 46 crore shares. Actor Ranbir Kapoor was one of the proposed allotees, who aimed to acquire 12.5 lakh shares of the company. Moneycontrol couldn't independently verify if the actor has acquired the shares as of yet.

Prime Focus was founded by Namit Malhotra in 1997 in a garage in Mumbai. The company acquired visual effects house Double Negative (DNEG) in 2014, which later won Academy Awards for its work on TENET, Dune: Part One and Dune: Part Two, bringing its tally of Oscars to eight. Prime Focus is known for the visual effects, animation, production and post-production.

Namit Malhotra owned 1.49 crore shares, representing 4.81 percent stake in the company, as on June 30 this year, according to data on the firm's shareholding pattern available on NSE.

Prime Focus shares have rallied nearly 62 percent in the past six months. The small-cap stock surged a whopping 300 percent in the past five years. Its P/E ratio currently stands at around 22.87, according to data on NSE.

Also read: Our LIVE blog on stock market updates

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.