Reliance Mediaworks is currently trading at Rs. 72.65, up by 4.15 points or 6.06% from its previous closing of Rs. 68.50 on the BSE.
The scrip opened at Rs. 68.90 and has touched a high and low of Rs. 73.80 and Rs. 68.85 respectively. So far 266901 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 102.15 on 27-Sep-2011 and a 52 week low of Rs. 49.00 on 31-May-2012.
Last one week high and low of the scrip stood at Rs. 73.80 and Rs. 66.25 respectively. The current market cap of the company is Rs. 335.11 crore.
The promoters holding in the company stood at 63.15% while Institutions and Non-Institutions held 0.32% and 36.53% respectively.
Reliance Mediaworks’ arm Reliance MediaWorks (USA), Inc., in partnership with Galloping Horse America, LLC (Galloping Horse), has submitted the winning bid to acquire the visual effects, Mothership Media (Mothership) and certain other businesses and assets of Digital Domain Productions, Inc. (Digital Domain) and subsidiaries for $30.2 million at a September 21, 2012 auction in New York.
The sale is subject to execution of an asset purchase agreement and Bankruptcy Court approval, the hearing for which is scheduled for today i.e., September 24, 2012.
Galloping Horse - Reliance will acquire all assets constituting the businesses of Digital Domain and Mothership -- feature film and advertising visual effects, commercial production and virtual humans, studios in California and Vancouver, BC, Canada and a co-production stake in the feature film Ender's Game.
Pursuant to the Bankruptcy Code, Galloping Horse - Reliance will acquire these assets free and clear of all claims and encumbrances, with the proceeds going to the bankruptcy estate. The businesses will continue to operate in the normal course of business, with the joint venture assuming ownership upon Court approval.
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