A host of smallcap stocks such as PVR, Laurus Labs, Indian Hotels & Man Infraconstruction were up 2-3 per cent in Friday's trade on company-specific developments. PVR rose as the multiplex owner opened its first 12-screen superplex in Kerala; Laurus Labs was up on entering share subscription agreement with Ethan Energy. ; Man Infraconstruction gained on product launch while Indian Hotels rose on reports the company was looking to bid for Rajesh Lifespaces.
Shares of PVR were rose 2.93 per cent to hit a high of Rs 1,875 after the multiplex owner said it has opened its first 12-screen superplex in the city of Kerala at Lulu Mall, Thiruvananthapuram. The cinema will commence operations from December 5. Analysts are positive on the stock of late, thanks to strong footfalls for Drishyam 2 and robust pipeline: Bhediya slated to release today, Cirkus for December 23 and Avatar on December 16.
Laurus Labs gained 2.31 per cent to hit a high of Rs 459.75 on BSE. This company entered into share subscription agreement and shareholders’ agreement with Ethan Energy India for subscribing 7,40,000 shares at a premium of Rs 42.70, which is equivalent to 26 per cent of the paid up capital of Ethan Energy India. This will enable the company to consume 100 per cent of the solar energy to be supplied by Ethan Energy India from their 10 MW Solar Energy plant.
Shares of Man Infraconstruction rose 2.94 per cent to hit Rs 78.75 on BSE. Man Infraconstruction is geared to launch another prestigious premium residential project - ‘Aaradhya Parkwood’ through its subsidiary Man Vastucon LLP, after recently delivering project ‘Aaradhya Highpark’ 16 months before time. The project is spread over 2.5 acres of land, having approximately 5.3 lakh square feet of carpet area for sale which has the potential to generate revenue to the tune of approximately Rs 850 crore.
Meanwhile, Indian Hotels Company rise 1.96 per cent to Rs 324.20 on BSE. There was a media report that suggested the Tata Group's firm was was among 26 entities that have expressed interest in taking over the debt of the defunct hotel business of real estate company Rajesh Lifespaces.
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