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PVR and Inox Leisure hit 52-week highs after mega merger deal

Research house CLSA retained a buy rating on PVR and Inox as the merger offers compelling synergy.

March 28, 2022 / 10:14 AM IST
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Share prices of multiplex players PVR and Inox Leisure rose 5 and 16 percent respectively in early trade, a day after the announcement of their merger deal to create a cinema giant with more than 1,500 screens.

INOX Leisure touched a 52-week high of Rs 563.60 and PVR hit a 52-week high of Rs 2,010.35.

Top multiplex players PVR and Inox had announced the merger deal after their boards yesterday okayed an all-stock amalgamation subject to the approval of shareholders of PVR and Inox, stock exchanges, market watchdog, and others.

Inox investors will receive PVR shares in exchange for shares in INOX at the approved swap ratio.