Cinemax India shares jump over 19% on bourses
Mumbai: Shares of Cinemax India on Monday jumped over 19 percent on the bourses amid market rumours of takeover attempts by rivals, even though the multiplex chain said it was not aware of any such moves.
On both the BSE and the NSE, the share touched its 52-week high of Rs 119.90 and Rs 119.75, respectively.
The scrip settled at Rs 117.60 apiece on the BSE, up 17.66 percent from the previous close, after touching the one-year high mark -- which was also its upper circuit limit.
On the National Stock Exchange, the stock of multiplex operator surged 19.14 percent to close at Rs 118.90. During the trading session, the stock had touched its 52-week high at Rs 119.75, which was also its highest permissible limit for the day.
The stock had moved up by nearly 20 percent on the stock exchanges on Friday.
According to media reports, multiplex players Inox Leisure, PVR Ltd and Cinepolis India are interested in Cinemax.
In a clarification to the stock exchanges today, Cinemax India said the "company is not aware of any stake sale/takeover to/by any other multiplex chain".
"The company have also checked with the Promoters of the company and have been informed that there is no transaction that has been executed in relation to stake sale," it added.