PVR, Inox Leisure hit record high

PVR rallied 8% to Rs 1,280 after the media report suggests that China's Dalian Wanda Group eyes controlling stake.

Shares of multiplex operator – PVR and Inox Leisure – have hit their respective record highs on the BSE, in otherwise range-bound market.

PVR rallied 8% to Rs 1,280, also its record high on the BSE in intra-day trade, after a media report suggested that China-based Wanda Cinema revived talks with Ajay Bijli, the promoter of the India's premier movie theatre company, to buy controlling stake in the multiplex operator.

The BSE said that the Exchange has sought clarification from PVR on September 02, 2016, with reference to news appeared in Economic Times dated September 02, 2016 stating "Wanda Eyes India Premiere Via PVR Buy."

The reply is awaited.

At 10:58 am, PVR was up 5% at Rs 1,245 on the BSE, as compared to 0.2% rise in the S&P BSE Sensex. The trading volumes on the counter jumped more than eight-fold with a combined 516,038 shares changed hands on the BSE and NSE.

Inox Leisure was trading 3.5% higher at Rs 288, after hitting a record high of Rs 293 on the BSE in intra-day trade.