The offer price for the block deal will be in the range of Rs 1852 to Rs 1929 per share, CNBC Awaaz said, adding that Kotak Securities will be the broker for the deal.
"As far as the upside is concerned, we have upgraded our stance for both PVR and Inox," Taurani said, noting that there could be 40 percent upside in the future.
Revenue from operations during the quarter under review stood at Rs 645.13 crore. It was Rs 837.63 crore in the corresponding quarter a year ago.
PVR said the results for this quarter are not comparable with the June quarter of the previous fiscal due to acquisition of South India-based SPI Cinemas.
The Nifty rollover for December series stand at 48.62 percent so far, slightly lower than the 3-month average of 68 percent, ahead of expiry.
On the technical front, 10,600-10,620 spot levels is a strong support zone for the index and the current trend is likely to continue towards 10,800-10,850 levels.
Motilal Oswal is bullish on PVR Ltd has recommended buy rating on the stock with a target price of Rs 1760 in its research report dated January 31, 2018.
ICICI Direct has recommended Hold rating on PVR Ltd with a target price of Rs 1440 in its research report dated July 27, 2017.
The economic data, released on Monday, showed a weakening services sector, consistent with a pattern of subdued consumption over the past two years, but some leading indicators have already begun to tell a different story.
Multiplex operator Inox plans to invest up to Rs 320 crore to open 128 screens in the next 2-3 years while it continues to scout for acquisitions, especially for regional players, to expand footprint across India.
L&T Finance has picked up 11.41 percent stake equivalent to 32.93 lakh shares in PVR Ltd. PVR Ltd today informed NSE that the mode of acquisition is "pledge of shares by promoters".
KR Choksey has come out with its earning estimates on Media sector for the quarter ended September 2011. According to the research firm, PVR Ltd. September quarter net sales are expected to go up by 26% at Rs 130 crore, quarter-on-quarter, (QoQ) basis.
PVR Ltd is eyeing EBITDA margin of 22-25% for FY12, with capex of45-55 screens by year end.
Mutliplex and cinema hall operator PVR Ltd late on Friday said its board had approved a buyback of equity shares at a price not exceeding Rs 140 per share for a total of Rs 2,622 crore.