Fame India ended at its 5% upper circuit at Rs 64.
Reliance Capital advanced 2% to Rs 766. The counter clocked volumes of 528,000 shares on the BSE.
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(Updated at 1316hrs)
Fame India has once again hit the 5% upper limit today. The stock is locked at Rs 64.65, up 5% for the tenth straight trading day after the company announced that the Reliance Capital Partners have bought additional 1.88% stake or 0.65 million shares on Wednesday, February 9.
The stock has appreciated by 62% from Rs 39.95 on January 29 on the BSE.
Reliance Capital Partners has acquired 8.13% stake in the cinema chain operator, during last one and half months. According to shareholding pattern available on the BSE and NSE, Reliance Capital Partners did not hold any stake in the company at the end of December, 2009.
Last week, INOX Leisure has made an open offer to the shareholders of Fame India to acquire up to about 8.2 million equity shares at a price of Rs 51 per share, after the company had acquired around 2.51 million additional equity shares in Fame India at Rs 50.75 each, in a block deal, taking its total stake in the company to 50.48%. The open offer will open April 1 and close on April 20, 2010.
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