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PVR falls 6% as Karnataka govt caps ticket fee at Rs 200

Prior to the announcement, the stock had seen strong performance. In the past one month, it has gained 9 percent, while its three-day gain stood at 4 percent

March 15, 2017 / 02:12 PM IST
PVR | GEM Equity has acquired 3.5 lakh equity shares in company at Rs 1,315.11 per share on the NSE.

PVR | GEM Equity has acquired 3.5 lakh equity shares in company at Rs 1,315.11 per share on the NSE.

 
 
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Shares of PVR fell nearly 6 percent intraday as investors turned wary of Karnataka government’s decision to cap multiplex rates.

The state government, in its Budget, has proposed to regulate multiplexes by making maximum entry fee at Rs 200.

Prior to the announcement, the stock had seen strong performance. In the past one month, it has gained 9 percent, while its three-day gain stood at 4 percent. At 14:04 hrs PVR was quoting at Rs 1,401.00, down Rs 49.25, or 3.40 percent, on the BSE. It touched an intraday high of Rs 1,447.90 and an intraday low of Rs 1,364.80.
first published: Mar 15, 2017 02:11 pm

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