The stock was locked at its 5% upper circuit of Rs 48.40 the whole day. Around 4.27 lakh shares were traded at the counter today.
_______________________________________________ (Updated at 1120 hrs)
Fame India has frozen 5% at Rs 46.10, after Inox Leisure decided to make Open Offer to public shareholders of the company.
In the process, the stock has hit the upper limit for the fourth straight trading session. It has appreciated by 21% from Rs 39.95 on January 29 on the BSE. Around 415,000 equity shares changed the hands on the counter so far.
Inox Leisure promoted by Gujarat Flurochemicals (GFL), had acquired 43.28% stake in the Shroff family promoted Fame India, which owns the chain of Fame Multiplexes.
In a block deal executed through the BSE on yesterday, Inox Leisure bought 43.28% stake owned by the promoter family of Fame, for an all-cash consideration of Rs 66 crore.
Meanwhile, the company had reported turnaround financial results by posting Rs 7 crore net profit in Q3FY10 against net loss of Rs 4 crore in same quarter of previous year.
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