Several smallcap stocks such as PVR, Laurus Labs, Indian Hotels and Man Infraconstruction gained 2-3 per cent in Friday’s trade on company-specific developments. PVR booms as multiplex owner opens its first 12-screen superplex in Kerala; Laurus Labs was about to enter into a share subscription agreement with Ethan Energy. , Man Infraconstruction gained from product launches, while Indian Hotels gained on news of Rajesh Lifespaces bidding for it.
Shares of PVR rose 2.93 per cent to hit an intraday high of Rs 1,875 after multiplex owner said it opened its first 12-screen superplex at Kerala’s Lulu Mall, Thiruvananthapuram. The cinema will start operations from December 5. Analysts are positive on the stock of late owing to strong footfall and robust pipeline for Drishyam 2: Bheriya scheduled to release today, Circus on December 23 and Avatar on December 16.
Laurus Labs gained 2.31 per cent to hit an all-time high of Rs 459.75 on the BSE. The company entered into Share Subscription Agreement and Shareholders Agreement with Atheon Energy India for subscription of 7,40,000 shares at a premium of Rs 42.70 each, which is equivalent to 26 per cent of the paid-up capital of Atheon Energy India. This will enable the company to consume 100 per cent of the solar power supplied by Atheon Energy India from its 10 MW solar power plant.
Shares of Man Infraconstruction rose 2.94 per cent to Rs 78.75 on the BSE. MAN Infraconstruction after recently delivering the project ‘Aaradhya Highpark’ 16 months ahead of schedule is all set to launch another prestigious premium residential project – ‘Aaradhya Parkwood’ through its subsidiary MAN Vastucon LLP. The project is spread over 2.5 acres of land, with around 5.3 lakh sq ft of carpet area for sale, with the potential to generate revenue of around Rs 850 crore.
Meanwhile, Indian Hotels Company gained 1.96 per cent to Rs 324.20 on the BSE. There was a media report that suggested that the Tata group firm was among 26 entities that had expressed interest in taking over the debt of the defunct hotel business of real estate company Rajesh Lifespace.
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