Reliance MediaWorks is currently trading at Rs. 151.90, up by 0.65 points or 0.43% from its previous closing of Rs. 151.25 on the BSE.
The scrip opened at Rs. 153.50 and has touched a high and low of Rs. 154.00 and Rs. 151.30 respectively. So far 60,354 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 309.00 on 06-Oct-2010 and a 52 week low of Rs. 122.25 on 09-Feb-2011.
Last one week high and low of the scrip stood at Rs. 154.00 and Rs. 148.05 respectively. The current market cap of the company is Rs. 700.43 crore.
The promoters holding in the company stood at 62.23% while Institutions and Non-Institutions held 6.07% and 31.70% respectively.
Reliance MediaWorks is in talks with strategic investors to raise Rs 500 crore to Rs 600 crore through a sale of equity. Some large global media services firms based in the United States and Europe are showing interest in buying a stake in the company.
Reliance MediaWorks has been discussing with the global firms from the last three months and the deal may be signed by the middle of the fiscal that begins in April. The company which operates cinemas, film and media services, and television production is seriously thinking of turning the media services business into a separate subsidiary, which can then offload a stake, although nothing has been finalized yet.
In January this year, the company was all set to open the country’s most modern studio that may invite several Hollywood and European filmmakers with its affordable international-standard production facilities.
Reliance MediaWorks is India’s fastest growing film and entertainment services company. It operates BIG Cinemas, the largest cinema chain of the country with over 525 screens spread across India, US, Malaysia, Nepal and Netherlands.
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