Prime Focus gains 9% on Oscar award for best visual effects

Moneycontrol Bureau

Shares of Prime Focus rallied 8.6 percent intraday Tuesday after its subsidiary bagged Oscar award for best visual effects in Ex Machina.

"Double Negative, a subsidiary of Prime Focus, scored a second consecutive win at the Academy Award by winning award for best visual effects for work on Ex Machina," says the world’s largest independent and integrated media services powerhouse in its filing.

This is the second year in a row that Double Negative has brought home ‘Best VFX’ Oscar; last year, it was recognised for its work on Christopher Nolan’s ‘Interstellar’. It is also the third Oscar for Double Negative in total.

The transaction with Double Negative was brought together through investment from Anil Ambani’s Reliance Capital and merger with the Reliance Mediaworks’ FMS business, the company says.

At 13:17 hours IST, the scrip of Prime Focus was quoting at Rs 59.00, up Rs 2.25, or 3.96 percent on the BSE.Posted by Sunil Shankar Matkar