PVR soars by 3% on plans to acquire stake in US company

iPic- Gold Class Entertainment, LLC is an US-based luxury restaurant and theatre company

Nov 17, 2017 08:11 IST India Infoline News Service

Shares of PVR touched a high of Rs 1,428.95 after the company announced that it will acquire a stake in iPic. The shares soared by 3%.

iPic-Gold Class Entertainment, LLC is an US-based luxury restaurant and theatre company. The theatre company owns and operates 16 theatres with 121 screens across 10 states in the US, and plans to list its shares on the exchanges.
 
PVR Ltd is currently trading at Rs 1406.7, up by Rs 16.2 or 1.17% from its previous closing of Rs 1390.5 on the BSE.
The scrip opened at Rs 1405 and has touched a high and low of Rs 1429.65 and Rs 1391.95 respectively. The promoters holding in the company stood at 20.25% while Institutions and Non-Institutions held 67.81% and 11.93% respectively.
The stock is currently trading above its 200 DMA.

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