PVR settles in green after tie up with Korean company

Shares of PVR Ltd today defied the broader market sentiments and settled in the positive territory after the multiplex chain operator said it has partnered with a Korean company to add 10 4DX screens.
The company today signed an agreement with CJ 4DPLEX to add ten more 4DX screens at 'CineAsia 2016' in Hong Kong, PVR said in a statement.
At the end of today's trading session, shares of PVR closed at Rs 1,085.80, up 0.06 per cent on BSE. During the day, the stock surged 2.38 per cent to an intra-day high of Rs 1,111.05.
At NSE, the stock ended the day at Rs 1,082.00, down 0.29 per cent. During the day, the stock surged 2.46 per cent to Rs 1,112.00.

"Through this roll-out agreement, PVR cinemas will retain its position as the largest provider of 4DX in India with 11 theatres. The new roll-out includes installation of 4DX in PVR Cinemas' highest grossing theatres in prime PVR locations in Bangalore and Mumbai," the statement said.
At present, PVR operates 557 screens at 121 properties in 48 cities across the country.
CJ 4DPLEX is the world's first 4D cinema company and has created 4DX technology. As on December 2016, 4DX was in operation at more than 314 auditoriums in 42 countries.