Cineline India touches roof on acquiring 25 screens on lease basis
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Cineline India is currently trading at its upper circuit limit of Rs. 91.20, up by 4.30 points or 4.95% from its previous closing of Rs. 86.90 on the BSE.
The scrip opened at Rs. 90.10 and has touched a high and low of Rs. 91.20 and Rs. 87.60 respectively. So far 2345 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 131.30 on 12-Oct-2021 and a 52 week low of Rs. 27.50 on 19-Apr-2021.
Last one week high and low of the scrip stood at Rs. 91.50 and Rs. 84.15 respectively. The current market cap of the company is Rs. 274.49 crore.
The promoters holding in the company stood at 65.39%, while Institutions and Non-Institutions held 0.07% and 34.54% respectively.
Cineline India has acquired 25 screens on a lease basis of which 7 in Hyderabad, 6 are in Noida, 3 in Gurgaon, 4 in Nagpur and 5 in Punjab. All the screens are leased properties. These theatres will have an aggregate seating capacity of more than 5,000 seats.
Post March 31, 2022, the company will also have access to its own 9 properties with 23 screens across Mumbai, Thane, Nashik, and Nagpur having an aggregate seating capacity of more than 6,000 seats. The company will grow the Film exhibition business aggressively in due course of time by acquiring theatre properties PAN India.
Cineline India is one of the most renowned real estate players in MMRDA region.
