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.
Trending On Reuters
SBI, the country's top lender by assets, reported on Friday its fourth-quarter profit tumbled a worse-than-expected 66 percent due to sharply higher provisions for bad loans as India's banks respond to a central bank order to clean up their books. Full Article