Prime Focus moves up on getting nod to sell its business division

23 Aug 2019

Prime Focus is currently trading at Rs. 35.15, up by 0.30 points or 0.86% from its previous closing of Rs. 34.85 on the BSE.

The scrip opened at Rs. 34.65 and has touched a high and low of Rs. 35.15 and Rs. 34.65 respectively. So far 306 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 97.00 on 23-Aug-2018 and a 52 week low of Rs. 34.40 on 22-Aug-2019.

Last one week high and low of the scrip stood at Rs. 40.50 and Rs. 34.40 respectively. The current market cap of the company is Rs. 1051.63 crore.

The promoters holding in the company stood at 34.96%, while Institutions and Non-Institutions held 11.39% and 53.64% respectively.

Prime Focus has received an approval for sale of its business division, VFX business, as a going concern, on a slump sale basis, to DNEG Creative Services, a subsidiary of the Company, for a consideration of up to Rs 270 crore.

The Business Transfer agreement is expected to be executed within 120 days from August 22, 2019. The Board of directors of the company at its meeting held on August 22, 2019 has approved for the same.

Prime Focus the world’s largest independent integrated media services powerhouse, employs over 9,000 professionals in 19 cities across 5 continents and 7 time zones.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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