PVR slips 5% after mega block deals
Published On: Thursday, September 15, 2022 | By: Team KnowMyStock
Shares of PVR dropped 5 percent to Rs 1,838 on the BSE in Thursday’s intra-day trade, after investors offloaded a 9 percent stake in the company via a block deal on Thursday. The investors who sold stakes in the company were - Multiples PE, Gray Birch, Plenty PE, and Berry Invt, the news channel reported. As per June 2022 shareholding pattern, Gray Brich Investment held 2.2 million (3.6 percent), while Plenty Private Equity FII held a 1.52 million (2.5 percent) stake in PVR. combined 10.25 million equity shares, representing 16.78 percent of the total equity of PVR, changed hands on the NSE and BSE, data shows. With Thursday’s decline, the stock corrected 17 percent, from its 52-week high level of Rs 2,211.55, that it had touched on August 4, 2022. The stock had been gaining after massive earnings from the movie Brahmastra.
The stock also got steam after the Competition Commission of India (CCI) rejected a complaint against the proposed merger of PVR and INOX Leisure, saying apprehension of the likelihood of anti-competitive practices by an entity cannot be a subject of a probe.
Tags: #PVR #blockdeal #stakes
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