PVR , a cinema exhibitor with presence in about 24 cities including all the four metros, gained more than five percent to Rs 301 on Friday as L&T Finance picked up 11.41 percent stake in PVR. But PVR, yesterday, informed NSE that the mode of acquisition is "pledge of shares by promoters".
However, the stock came off day's high after L&T Finance denied reports of company picking up 11.41 percent stake in PVR.
At 12:21 hours IST, PVR rose 2.68 percent to Rs 293.40 amid large volumes.
Trading volumes increased 196 percent to 1,89,967 shares as compared to its five day average of 64,091 shares.
(With inputs from PTI)
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