PVR jumps on opening a 5-screen multiplex at Aerohub in Chennai!
Today, the stock opened at Rs 1661.05 and has touched a high and low of Rs 1684.75 and Rs 1650.60, respectively.
At 12 pm, the shares of PVR Ltd were trading at Rs 1686.40, up by 28.65 points or 1.72% from its previous closing of Rs 1657.75 on the BSE.
Reason for rise in PVR stock price
PVR Cinemas has opened its 5-screen property at PVR Aerohub in Chennai, Tamil Nadu, making it the country's first multiplex to be housed within an airport complex. The cinema, which will play a key role in the new-age transit-oriented development project at Chennai Airport, will serve the entertainment needs of arriving and departing passengers and residents in the surrounding area.
PVR Cinemas will have 12 properties in Chennai with 77 screens with this launch while consolidating its foothold in Tamil Nadu with 88 screens in 14 properties. Its South Indian screen count will increase to 328 across 53 properties.
The Cinema has a seating capacity of 1155 audiences. It is equipped with cutting-edge cinematic technologies including 2K RGB+ Laser projectors, REAL D 3D digital stereoscopic projection for crystal clear, razor-sharp, ultra-bright pictures and advanced Dolby Atmos high-definition immersive audio.
Business of PVR
PVR is the largest and most premium film exhibition company in India. Since its inception in 1997, the brand has redefined the way entertainment is consumed in the country. The company currently operates a cinema circuit comprising 908 screens at 182 properties in 78 cities (India and Sri Lanka), serving over 100 million patrons annually.
PVR stock price movements
The BSE group 'A' stock of face value of Rs 10 has a 52-week high and low of Rs 2211.55 and Rs. 1484.40, respectively. Last one week high and low of the scrip stood at Rs 1755.85 and Rs 1632, respectively. The current market cap of the company is Rs 10319.11 crore. The promoters holding in the company stood at 16.94%, while Institutions and Non-Institutions held 67.00% and 16.06%, respectively.
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