PVR completes Cinemax buy; shares up 10%
9 Jan 2013 6:22 AM IST
Shares of multiplex chain operator PVR on Tuesday shot up by over 10 per cent after the company said it has completed the purchase of controlling stake in Cinemax India.
Shares of the company soared by nearly 13 per cent to Rs 314.50 during the day on the BSE. It ended at Rs 308.10, up 10.45 per cent from its previous close. On the other hand, shares of Cinemax India fell by 1.12 per cent to close at Rs 198.4 after touching a record high of Rs 202.65 in intra-day on the BSE.
After the deal, PVR will become the country’s largest multiplex operator with a combined strength of 351 screens at 85 locations.'
Shares of the company soared by nearly 13 per cent to Rs 314.50 during the day on the BSE. It ended at Rs 308.10, up 10.45 per cent from its previous close. On the other hand, shares of Cinemax India fell by 1.12 per cent to close at Rs 198.4 after touching a record high of Rs 202.65 in intra-day on the BSE.
After the deal, PVR will become the country’s largest multiplex operator with a combined strength of 351 screens at 85 locations.'
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