The stock erased all its gains and finally settled 4% lower at Rs 90. The counter witnessed trades of 14 lakh shares as compared to the two-week dialy average traded volumes of 10.41 shares on the BSE.
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(Updated at 0955hrs)
Shree Ashtavinayak Cine Vision has gained in early trades on expansion plans.
The stock opened at Rs 92.50 and surged 5% to a high of Rs 97.30. The stock is now trading at Rs 94.50 - up 1.2%. Over 6.95 lakh shares gave been traded on the BSE so far.
The film production company plans to invest Rs 457 crore to expand its movie entertainment business. It has formed two subsidiaries for the same purpose. They intend to raise Rs 300 crore through the subsidiaries. Recently, the shareholders had approved a 4:1 bonus issue.