Cineline India Limited to re-enter into movie exhibition business

The Board of Directors of Cineline India Limited, at its meeting held today i.e. 22nd December, 2021 through video conferencing, reviewed the operations of the Company and held deliberations on the forthcoming expiration of the license period on 31st March, 2022 of the leave and license agreements executed between the Company and PVR Limited.

In light of upcoming expiration of License Period, the Board discussed on various business and growth opportunities available to the Company.

Considering the fact that as the exhibition business is returning to normalcy, post relaxation of lockdown restrictions and with patrons returning to theaters, the Board of Directors of the Company at their meeting considered and approved that the Company shall itself re-enter the exhibition business through its owned theater properties. Further, going forward the Company shall also acquire additional properties on lease basis for further growth and expansion.

Shares of Cineline India Limited was last trading in BSE at Rs. 93.55 as compared to the previous close of Rs. 92.15. The total number of shares traded during the day was 1110 in over 64 trades.

The stock hit an intraday high of Rs. 95.30 and intraday low of 91.45. The net turnover during the day was Rs. 104150.00.

Source : Equity Bulls

Keywords

CinelineIndia INE704H01022 Theater MovieExhibition Multiplex