PVR, Man Infraconstruction up 2% on product launch

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PVR, Man Infraconstruction up 2% on product launch

A host of smallcap stocks, such as PVR, Laurus Labs, Indian Hotels Man Infraconstruction, and PVR, were up 2 -- 3 per cent in Friday's trade on company-specific developments. The multiplex owner opened its first 12-screen superplex in Kerala, Laurus Labs had entered a share subscription agreement with Ethan Energy. Man Infraconstruction gained on product launch while Indian Hotels went up on reports that the company was looking to bid for Rajesh Lifespaces.

The PVR share price went up 2.93 per cent to hit a new high of 1,875 after the multiplex owner said it opened its first 12-screen superplex in the city of Kerala at Lulu Mall, Thiruvananthapuram. Analysts are positive about the stock of late thanks to strong footfalls for Drishyam 2 and robust pipeline: Bhediya will be released today, Cirkus for December 23 and Avatar on December 16.

Laurus Labs gained 2.31 per cent to hit a new high of 459.75 on the BSE. The company will be able to consume 100 per cent of the solar energy supplied by Ethan Energy India from their 10 MW Solar Energy plant.

Shares of Man Infraconstruction rose by 2.94 per cent to Rs 78.75 on the BSE. Man Infraconstruction is about to launch another prestigious premium residential project - Aaradhya Parkwood through its subsidiary Man Vastucon LLP, after recently delivering the project Aaradhya Highpark 16 months before time. The project is spread over 2.5 acres of land and has about 5.3 lakh square feet of carpet area for sale, which has the potential to generate revenue of around Rs 850 crore.

The Indian Hotels Company rose 1.96 per cent to Rs 324.20 on the BSE. A media report said that the Tata Group's firm was among 26 entities that expressed interest in taking over the debt of the defunct hotel business of Rajesh Lifespaces.