Inox Leisure rose 0.68% to Rs 272.10 at 12:18 IST on BSE after the Reserve Bank of India allowed foreign investors to enhance investment in the company from the existing 24% up to 49%.
Meanwhile, the S&P BSE Sensex was up 131.14 points or 0.46% at 28,654.34
On BSE, so far 46,000 shares were traded in the counter as against average daily volume of 50,416 shares in the past one quarter. The stock hit a high of Rs 278.90 and a low of Rs 270.55 so far during the day. The stock had hit a record high of Rs 292.90 on 2 September 2016. The stock had hit a 52-week low of Rs 170 on 12 February 2016. The stock had underperformed the market over the past 30 days till 20 September 2016, rising 0.43% compared with 1.92% rise in the Sensex. The scrip, however, outperformed the market in past one quarter, gaining 18.95% as against Sensex's 6.57% rise.
The small-cap company has equity capital of Rs 96.46 crore. Face value per share is Rs 10.
The Reserve Bank of India (RBI) yesterday, 20 September 2016 notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) from default can now invest from existing 24% up to 49% of the paid up capital of Inox Leisure under the Portfolio Investment Scheme (PIS). The Reserve Bank of India (RBI) has stated that the company has passed resolution at its board of directors' level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares by FIIs/RFPIs. The purchases could be made through primary market and stock exchanges, RBI said. Foreign institutional investors holding in Inox Leisure stood at 22.47% (as at end 30 June 2016).
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On consolidated basis, Inox Leisure's net profit fell 1.27% to Rs 24.96 crore on 11.65% growth in total income to Rs 339.36 crore in Q1 June 2016 over Q1 June 2015.
Inox Leisure is the diversification venture of the Inox group into entertainment. The company currently operates 109 multiplexes and 429 screens in 57 cities making it a truly pan-Indian multiplex chain.
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