In 4.7 million shares or 7.7% of the company, the profit is Rs 1,892 per year.
Shares of PVR Ltd fell Thursday after about 4.7 million changed hands, according to Bloomberg. At the moment, the identity of buyers and sellers is unknown.
The shares fell 2.3 percent to a low of Rs 1,882 per share on BSE. According to Bloomberg, approximately 4.7 million shares, or 7.7% of the company, are trading at Rs 1,892 per share.
CNBC TV18 reported Wednesday that four investors in Cinema PVR Ltd will offer 7.7% of the company in a one-way deal. These four are Multiple PE, Gray Birch, Plenti PE, and Berry Invt.
CNBC Awaz reported that Kotak Securities was trading with an offer price of 1,852 dinars and 1,929 dinars per share.
In the quarter ending June 2022, operators around the world posted a net income of Rs 68.3 billion, compared with Rs 44.2 billion in the first quarter of 2020 in the run-up to the pandemic.
The company’s PVR network service revenue was Rs 530 crore in the quarter ending June 2022, compared to Rs 456.6 crore reported in the first quarter of 2020.
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PVR broke the three-day rally. It blocks 5% of the contract
PVR shares fell today after news broke that four investors had sold four 9% stakes in the network operator through a share sale.
PVR, the nation’s largest integrated cinema chain, was down nearly one percent on the BSE on Thursday. After rising more than 5% over the past three quarters, the stock is reversing.
PVR shares fell 1.8% to INR 1,894.10 in early trading compared to the previous close of INR 1,929.45 on the BSE. After these losses, the average share capitalization fell to 1,840 as 60.6 million shares changed hands on BSE versus a two-week average of 0.46 million shares. . The stock market fell to Rs 11256.3 billion.
Regarding the sale of PVR shares, news broke today that four entrepreneurs have sold about 9% of several companies in the chain to a certain number. The investors who sold their shares in the company were Multiple PE, Gray Birch, Plenty PE, and Berry Investment. The offering price is Rs 1,929-1,852 per share and Kotak Securities is unbiased.
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Brahmastra effect? PVR and Inox Loisirs shares fall 6 percent
The stock has gained more than 5 percent in the last three quarters after the recently released low-budget Brahmastra took the international box office. The Ranbir Kapoor-Alia Bhatt cast crossed the Rs 150 crore mark at the global box office in the first five days of release. PVR and Inox Leisure fell 5 percent on Friday after receiving disappointing reviews from fans and critics. . Made on a budget of Rs 410 crore, Ayan Mukerji’s film has received mixed reviews and is expected to hit the box office after Lal Singh Chadha, Raksha Bandhan, Shamshir and Dubara. The Competition Commission of India (ICC) has dismissed the complaint against the merger of Vikas, PVR, and Inox Leisure, saying the alleged anti-competitive nature of the entities cannot be questioned. Recently, several PVR and Inox Otium operating networks have tested the stock market integration tool. The reason for this is the power to conclude contracts, which will be granted by the National Court of Law Society and other legal treaties.
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PVR announces merger with INOX to create India’s largest multi-generational network
In March this year, PVR and INOX Leisure, the country’s largest chain, announced a merger to create a network of 1,500 shows across 1,900 cities across India. PVR currently has 881 cinemas in 181 locations in 73 cities, while INOX has 667 properties in 160 locations in 72 cities, making it the largest cinema company in India with 1,546 cinemas in 190 cities across 341 locations. Read approvals from partners, SEBI, and other agreements. The combined company name is PVR INOX Limited and will continue the Layar brand under the names PVR and INOX. The name of the new film after the open merger is PVR INOX. The merger was announced after the demand for digital OTT platforms increased during the pandemic, which hit the film industry hard. OTT platforms such as Netflix, Amazon Prime Video, and Disney Hotstar have peaked during the Covid-19 pandemic in India with cinemas and theaters, many of them closed to prevent the spread of the virus.
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Impact of Covid, Growth of OTT PVR, Inox
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Brahmastra effect? PVR and Inox Loisirs shares fall 6 percent
The stock has gained more than 5% in the last three quarters after the recently released low-budget Brahmastra set the international box office on fire. The Ranbir Kapoor-Alia Bhatt cast crossed the Rs 150 crore mark at the global box office in the first five days of release.
PVR and Inox Unemployment fell 5% on Friday as Brahmastra was dismayed by criticism and comments. Made on a budget of Rs 410 crore, director Ayan Mukerji received mixed reviews after the recent major fiasco of Lal Singh Chadha, Raksha Bandhan, Shamsher, and Dobaar which raised hopes of a revival at the box office.
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PVR shares fell 5% as investors sold 9%. Should you buy, sell or trade?
PVR stock today: BSE’s PVR stock fell 5% to 1,838 shares in Thursday’s trade as investors sold 9% of the company in a block trade. In contrast, the S&P BSE Sensex lost 0.46% to 60,067. The stock has risen 5% over the past three days.
According to data as of 10.57 am, there were 10.25 million shares outstanding, representing 16.78% of PVR’s total assets, higher than the NSE and BSE. The names of the buyer and seller were not immediately released. Shares have recovered 17% from a 52-week high of Rs 2,211.55 on August 4, 2022, as of Thursday’s close.
Sources told CNBC TV-18 that the investors selling the company’s stock were Multiples PE, Grey Birch, Plenty PE, and Berry Invt.
Grey Birch Investment owns 2.2 million shares (3.6%) and Nyatu Private Equity FII owns 1.52 million shares (2.5%) in PVR, according to exchange data for June 2022.
After the film “Brahma” was a box office success, the stock price soared. The stock rose even after the Competition Commission of India (ICC) rejected a proposal to merge PVR with INOX Laser, saying it would investigate concerns over possible anti-competitive practices by business partners.
In addition to the COVID-19 ban, the PVR-Inox business will not be eligible for an exemption from the mandatory merger review, CCI’s complaint filed with CUTS on July 27 said. The team is awaiting word from the CCI.
The boards of the two companies, the largest chains in the country, have approved a merger of all their shares to create a movie theater with more than 1,500 screens.
What should investors do?
On the other hand, analysts said that after the April-June quarter of this fiscal year (FY2023), the decline in production in the second quarter of fiscal 2023 is likely due to a decline in blockbusters. this small budget
“Bollywood has typically produced subpar content, and this time around we are witnessing a decline in box office revenue. Also, while the film portfolio looks healthy, audience acceptance is key. And the MK Global analyst continues “. Financial services can. PVR/Stainless cut FY23 earnings guidance to 11-12%, but timing remains critical for recovery in FY25.
“Investors are advised to wait for the selling pressure to ease. Technically, the stock may retest the Rs 1,775 level. I am neutral on equality,” said Prashant Taapsee, senior vice president at Mehta Equities.