PVR has hit a new 52-week high at Rs.751 with volumes rising over 2.5 times. The stock is firmly in the green, up over 3%, at Rs.740 levels.

The stock is in the limelight on reports that the PVR group will soon be acquiring Chennai’s premier movie exhibition company, SPI Cinemas, which is recognized as Sathyam Cinemas. If this goes through, it could prove to be India’s multiplex sector. The news doing the rounds is that this buy could come in with a hefty price tag of around Rs.750-1000 crore and this is for some 40 screens in Southern India.