Cinemax India has locked in 20% upper circuit at Rs 99.95 on back of three-fold jump in trading volumes on the Bombay Stock Exchange (BSE).
A combined 481,494 shares have already changed hands on the counter and there are pending buy orders for 214,522 shares on the BSE and NSE. The stock of multiplex chain operator has rallied 82% since its listing at Rs 55.05 on October 18.
On Monday, October 29, Reliance Media & Entertainment Fund had acquired 158,097 shares in Cinemax India, for more than Rs 1 crore.
Reliance Mutual Fund, a part of Reliance - Anil Dhirubhai Ambani Group has purchased the said shares at an average price of Rs 77.80 per share, according to bulk data available with the NSE. However, the seller of the shares could not be ascertained.
The erstwhile Cinemax India demerged its exhibition business into a separate entity named Cinemax Exhibition India. Post the demerger, the older company having interest only in the real estate business was renamed Cinemax Properties and Cinemax Exhibition India was renamed Cinemax India.