Entertainment Sector

PVR Cinemas signs five-theatre deal with IMAX

PVR Cinemas signs five-theatre deal with IMAX

New Delhi [India], Apr 27 : Multiplex chain PVR Ltd. on Wednesday signed an agreement with IMAX Corporation to add five more IMAX theatres in the Indian market. Through this rollout, PVR cinemas will reach a count of 10 IMAX screens and retain its position as the largest IMAX partner in India.

The new IMAX theatres, which are planned to be located in Delhi and other major metropolitan markets and will comprise a combination of new and existing PVR cinemas, are slated to begin opening this year, with all theatres expected to launch by the end of 2019.

PVR Cinemas launches first four-screen multiplex in Ranchi

PVR Cinemas launches first four-screen multiplex in Ranchi

New Delhi [India], Apr. 1 : Multiplex chain PVR Cinemas launched its first multiplex in the capital city of Jharkhand- Ranchi. With this, PVR Cinemas has successfully established its presence in 50 cities across India.

The newly launched four-screen property is the largest and the most premium multiplex of the city, situated in the heart of Ranchi. Being elected to be developed as a smart city under the Government of India's ' Smart City Project'; Ranchi has witnessed tremendous development in the recent times. This surge of expansion has also opened opportunities resulting in a diverse population with evolved entertainment consumption patterns.

Armory Cancels K. Michelle Concerts

Armory Cancels K. Michelle Concerts

Michelle fans would be disappointed as the hip hop artist's this month's concert's at the Washington Avenue Armory has been cancelled.

The Armory on Thursday announced that it has suspended shows due to foreseeable future, while its owners, the city and state Department of State investigate security procedures in the aftermath of six stabbings and an assault at a concert by Migos, a hip hop group.

It has been found that three Albany residents named Dywuan Blunt, 21, Nyguel Williams, 17, and Da-Min Germon, 17, has been charges with felony first-degree riot after the fight.

Blunt was accused Thursday and was sent to the Albany County jail without bail, according to City Court records. Williams and Germon were released on Sunday under supervision.

India Still Hopes for Gold Medal at Cannes Lions Festival

Cannes-Lions-FestivalIndia has yet to get their hands on a gold medal from the Cannes Lions Festival 2011. It was the 58th International festival of Creativity and Indian PR groups took home two silver and one bronze metal. BBDO brought home two silvers in the PR Lions category.

Buy Larsen and Toubro

Buy Larsen and ToubroTechnical analyst Anu Jain has maintained 'hold' rating on Larsen and Toubro Limited (L&T) stock for 7-8% upside from existing levels if it holds on to Rs 1674.

The stock of the company, on April 13, closed at Rs 1717.60 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 2212 and a low of Rs1484.70 on BSE.

Current EPS & P/E ratio stood at 57.63 and 29.95 respectively.

Larsen and Toubro is making attempts to sell electricals and electronics biz.

The directors of the company have given nod to the sale of electricals biz.

Investors subscribing to Eros International's issue

Investors subscribing to Eros International's issueEros International Media is stepping in the capital market via a public issue hoisting approximately Rs 350 crore at the price band of Rs 158-175. The group campaigns to employ a few of Rs 280 crore to obtain or co-produce films in Hindi and different local languages.

It has an alluring channel of movies that might get released in approaching quarters. Movies such as Desi Boyz and Anjaana Anjaani, in Hindi and a little other in Tamil and Marathi have been acknowledged for the net earnings of the issue.

Reliance MediaWorks posts net loss of Rs 54 crore in Q1 FY 11

Reliance MediaWorks posts net loss of Rs 54 crore in Q1 FY 11Reliance MediaWorks Ltd. has declared its first quarter financial results for the fiscal year 2010-11. Reliance MediaWorks Ltd. is controlled by the Reliance ADA Group.

The company has informed that it has suffered a net loss of Rs 54 crore for the June quarter of the current year. However, the company is one of the leading and fastest growing film and entertainment services firm.

The company has announced that there has been a 100% hike in its total income from its operations.

Cinemax looking for partners to fuel growth

Cinemax-IndiaCinemax India Ltd., the chain of multiplexes is now looking for partners for fueling its growth. Private equity is the specific area where it is seeking for investors.

It expects to raise Rs. 150 crore and the corpus will be used for aggressive growth plans and consolidation.

Cinemax is a Mumbai-based firm which has 94 screens in major cities. A person familiar with the development said that it wants to expand across India.

Rs 5.20 crore loss for Pyramid Saimira

Pyramid-SaimiraTheatre chain Pyramid Saimira Theatre Ltd. has announced its fourth quarter financial results for the financial year 2009-10 and the reports has not been so significant this time.

The company has posted a loss of Rs 5.20 crore for the fourth quarter of the fiscal that that ended in 31st March, 2010. For the same quarter last year, the firm has registered a remarkable profit.

Pyramid Saimira has posted a net profit of Rs 14.06 crore during the corresponding quarter in the preceding fiscal year.

Sell Zee Entertainment With Target Of Rs 292

Sell Zee Entertainment With Target Of Rs 292Stock market analyst Hemen Kapadia has maintained 'sell' rating on Zee Entertainment Enterprises Ltd stock with intraday target of Rs 292.

According to analyst, the investors can sell the stock at Rs 298 with stop loss of Rs 301.

The shares of the company, on June 24, closed at Rs 293.55 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 314.70 and a low of Rs 163 on BSE.

Current EPS & P/E ratio stood at 11 and 26.35 respectively.

Entertainment Network posts a profit of Rs. 48 million

Entertainment Network posts a profit of Rs. 48 millionEntertainment Network (India) Ltd, owners of popular FM radio channel, Radio Mirchi and a leading player in the industry, was able to show profit for the quarter ending March 31, 2010.

The net profit of the company stood at Rs. 48 million, which is higher than Rs. 13 million that was generated during last year.

Revenue of the entertainment company was at Rs. 612 million. It is much higher than Rs. 503 million that the company was able to generate last year.

Hold Punj Lloyd With Stop Loss Of Rs 132

Hold Punj Lloyd With Stop Loss Of Rs 132Stock market analyst Kunal Saraogi is of the view that investors can hold Punj Lloyd stock with a stop loss of Rs 132.

According to him, the investors can sell the stock on any rally.

Today, the stock opened at Rs 135.90 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 298.80 and a low of Rs 140.05 on BSE.

Current EPS is -1.96.

As part of its inorganic development strategies, Punj Lloyd Engineering, a wholly owned arm of Punj Lloyd Ltd, is making plans to get hold of a company in the Middle East or other geographies.

Pursuit of Britain's EMI not out of the question, says Sony Music

Rolf-Schmidt-HoltzAccording to the media reports, Sony Music Chief Executive Officer Rolf Schmidt-Holtz said pursuit of Britain's EMI, the label owning the music of The Beatles, was not out of the question.

The New York Post reported on Monday that Schmidt-Holtz said, "We are in a position that allows us to seize every opportunity in the market, including EMI."

It was also noted by the report that EMI is owned by private equity firm Terra Firma Capital Partners, which borrowed $4.73 billion from Citigroup to purchase EMI in 2007.

Intraday Buy Call For Zee Entertainment

Intraday Buy Call For Zee EntertainmentTechnical Analyst Salil Sharma has maintained 'buy' rating on Zee Entertainment stock to achieve an intraday target of Rs 313.

According to him, interested traders can purchase the stock with a stop loss of Rs 296.

The shares of the company, on April 27, closed at Rs 102.05 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 314.70 and a low of Rs 110.45 on BSE.

Current EPS & P/E ratio stood at 11 and 27.45 respectively.

Ex-CEO of Sony thrilled by the $80 million facilitation fee

Sony-EntertainmentThe ex-CEO of Sony Entertainment has recently said that he was surprised to see that Multi Screen Media has paid a whopping $80 million to World Sports Group as facilitation fee as it was not decided in the contract. According to Gupta, the contract had an extra break-up fee of $25 million after the fifth season ends wherein it had the first right of refusal as far as telecasting the sixth season was concerned.

Notably, Sony had bagged the rights for the first five years for $300 million while WSG had opted to bag rights for another five years for a consolidated $600 million.

Icahn offers to by stake in Lions Gate

Carl-IcahnBillionaire Investor Carl Icahn has offered to buy remaining shares in studio company Lions Gate Entertainment Corp., which is currently under a move to participate in the final bidding process for the owners of James Bond film franchise, Metro-Goldwyn-Mayer Inc.

The offer surfaced after Lions Gate asked its shareholders to reject an open tender offered by Icahn to raise its stake in the company 18.9 per cent at present to 30 per cent. He had offered $6 per share. As per the company, the price was inadequate and coercive.

Media and entertainment industry to cross $24 billion by 2014

FICCI-LogoThe media and entertainment industry in the country is about to cross the mark of $24 billion by 2014, according to a study.

The growth of 13 per cent is mostly on the backing of a strong economic recovery. The industry is witnessing increased spending in advertising and higher media penetration.

The study was conducted by the Federation of Indian Chamber of Commerce along with the consultancy firm KPMG.

Imax Corp reports profit in fourth quarter on the huge revenue by Avatar

Imax-CorpImax Corp, a Toronto based screen movie operator, reported a net profit in the fourth quarter of FY 2009. The movie operator released its fourth quarter and full year results on Thursday. The company said that the profit in the fourth quarter was mainly attributable to the strong performance of films in the fourth quarter, including Avatar. The company also provided an optimistic outlook for the coming quarter.

Cineworld rides high on 3D movies

cineworldCineworld Group Plc, the cinema chain that has presence in UK and Ireland, announced its annual results on a high note. The cinema chain has registered a higher profit in the current fiscal vis-à-vis the profits in the last financial year.

The company said in a statement that the increase in its profits was mainly driven by increased business from 3D movies. The global blockbuster Avator which was released in the Christmas week was one of the major drawers for Cineworld. For the records, Avatar was the biggest grosser of all times.

EMI Music back on track

EMI Music back on trackThe EMI music group has been in news for various reasons. EMI music is regaining its momentum just after Charles Allen has been appointed as the CEO of the company.

He has replaced Elio Leoni-Sceti and now has made his intensions very clear to the market it. EMI will recapture its market share by some extra-ordinary services. The company has issued shares for its investors and likely to raise new funds by the month of June this year.

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