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Shares of PVR, INOX Leisure defy broader market trend; settle with gains
Shares of multiplex chains PVR and INOX Leisure defied the broader market trend and settled in the positive territory on Wednesday after the Competition Commission rejected the complaint against proposed PVR-INOX deal.
The rise in shares came a day after the Competition Commission of India (CCI) rejected a complaint against the proposed merger of PVR and INOX Leisure, saying apprehension of likelihood of anti-competitive practices by an entity cannot be a subject of probe.
Shares of PVR opened on a bullish note at Rs 1,891.10 and hovered in the range of Rs 1,886.75 to Rs 1,974.75 during the trading session on BSE. It finally closed at Rs 1,929.45, up 0.99 per cent over its last close.
On NSE, it opened at Rs 1,905 and settled at Rs 1,927.00, registering a rise of 0.94 per cent over its Tuesday's closing level.
A similar trend was seen on the INOX Leisure counter as well, where the stock opened at Rs 511 and oscillated between Rs 511.00 and Rs 550.40 during the trading session on ..
