PVR Ltd hit a new 52-week at Rs.1280.20 and this was on unconfirmed news that it is now a prime takeover target. The news is that China’s richest man owned Wanda Cinema, which had explored the option earlier, has once again revived its talks with Ajay Bijli, the promoter of PVR to buy a majority stake in the company.

The news is that Bijli might opt to sell out his entire stake, maybe retaining a small, token percentage.

The stock exchange has asked for clarification on the same from PVR and is yet to get a reply. Till then, the stock will soar