PVR Hits 52-week High on Plans to Takeover SPI Cinemas

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    Shares in PVR Limited rallied in trade hitting a new 52-week high on the National Stock Exchange (NSE) on reports of takeover of SPI Cinemas.

    PVR Hits 52-week High on Plans to Takeover SPI Cinemas
    PVR: Quotes, News
    BSE 1307.15BSE Quote14.2 (1.09%)
    NSE 1306.15NSE Quote14.45 (1.11%)
    The stock was last trading at Rs 737 on the National Stock Exchange. The shares hit a 52-week high of Rs 750 on sustained buying support during intra-day trading.

    The PVR group according to news reports was set to acquire the Chennai based movie exhibition company SPI Cinemas.

    The stock of the company has been on a roll since last one year rallying from low levels of Rs 465 to the current levels. Dealers say that stock valuations of PVR are already expensive and one needs to see if the company perform better and financials match the share price.

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