Business, Economy & Banking Current Affairs - 2019

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PVR to buy 69% stake in Cinemax

PVR would acquire 69.3% stake in Cinemax India for an amount of Rs 395 crore in order to expand its business in India. Cinemax is owned by Kanakia Group.

  • The acquisition would make PVR the largest multiplex chain in India.

PVR:

  • Priya Village Roadshow (PVR) Cinemas
  • Began as a joint venture agreement b/w Priya Exhibitors Private Limited and Village Roadshow Limited in 1995 with 60:40 ratio
  • Commenced its commercial operations in June 1997 with the launch of PVR Anupam in Saket
  • PVR Anupam in Saket, South Delhi, was India’s first multiplex
  • Introduced the multiplex concept in India

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Infosys to shift its ADS from Nasdaq to NYSE Euronext

Indian IT major Infosys will shift its American Depositary Shares (ADS) from the NASDAQ to NYSE Euronext. The step is being taken to provide European investors better access to its stock.
What is ADS?

  • It refers to US dollar denominated share of any foreign company trading on an American stock exchange.

Why Infosys has chosen NYSE Euronext?

  • NYSE Euronext’s equities markets represent nearly 40% of the world’s equities trading and are considered the most liquid of any global exchange group.
  • Its tie-ups with exchanges in Europe will allow Infosys to expand its market base by making its stock more visible and accessible to investors in countries such as Germany and France.

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