PVR rose 2.21% to Rs 430.60 at 12:23 IST on BSE after the company announced opening another multiplex at Fun City Mall in Panipat, Haryana.
The company made the announcement during trading hours today, 12 September 2013.
Meanwhile, the BSE Sensex was down 140 points, or 0.70%, to 19,857.45.
On BSE, 5,837 shares were traded in the counter compared with average volume of 12,399 shares in the past one quarter.
The stock hit a high of Rs 442.75 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 422.05 so far during the day. The stock hit a 52-week low of Rs 179.35 on 20 September 2012.
The stock has risen 13.75% in six trading sessions from a recent low of Rs 378.55 on 3 September 2013.
The stock had outperformed the market over the past one month till 11 September 2013, rising 19.94% compared with the Sensex's 6.43% rise. The scrip had also outperformed the market in past one quarter, rising 28.45% as against Sensex's 4.46% decline.
The small-cap multiplex cinema chain operator has an equity capital of Rs 39.60 crore. Face value per share is Rs 10.
PVR announced that the three-screen multiplex with 681 seats at Fun City Mall in Panipat was launched on 12 September 2013. With this, the total screen count has increased to 258 screens at 53 locations across 30 cities in 13 states and 1 union territory. PVR said the launch of new multiplex is part of its organic growth strategy of pan-India expansion and increasing its presence in major cities.
PVR's consolidated net profit rose 79.9% to Rs 13.60 crore on 87.2% growth in net sales to Rs 334.45 crore in Q1 June 2013 over Q1 June 2012.
PVR is engaged in film production and distribution. The company operates multiplexes under the brand name 'PVR' cinemas.
In November 2012, PVR acquired promoters' entire stake in rival Cinemax India. PVR later raised its stake in Cinemax India via a mandatory open offer. PVR holds 93.19% stake in Cinemax India through its wholly-owned subsidiary Cine Hospitality (as per the shareholding patter as on 30 June 2013).
On 15 June 2013, PVR's board approved the merger of Cine Hospitality and Cinemax India with PVR. As per the swap ratio, shareholders of Cinemax India received 4 shares of PVR for every 7 shares held in Cinemax India.
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