Cinemax India gains; PVR looks to buy stake

Tue Nov 27, 2012 2:41pm IST

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Reuters Market Eye - Shares in Cinemax India Ltd(CINX.NS) gain 1.5 percent, after PVR Ltd (PVRL.NS) said it is engaged in talks with promoters of Cinemax India for a potential purchase of their shares.

PVR Ltd has informed exchanges that it is talking with the promoters of Cinemax India for a potential purchase of their shares in Cinemax India. However, no definitive agreements have been entered into.

Dealers say the market had a whiff of this announcement, resulting in a 117 percent rise in the stock price in November, as of Monday's close.

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