Pyramid Saimira Theatre firmly in the picture after China foray

Pyramid Saimira Theatre surged 7.32% to Rs 311.65 at 14:08 IST on BSE on signing an agreement with China Society of Music Research Board, Ministry of Culture, Government of People's Republic of China to promote cultural cooperation.

The company made this announcement during trading hours today, 19 March 2008.

On BSE, 1.52 lakh shares were traded in the counter. The scrip had an average daily volume of 99,580 shares in the past one quarter.

The stock hit a high of Rs 330 and a low of Rs 301 so far during the day. The stock had a 52-week high of Rs 551 on 31 December 2007 and a 52-week low of Rs 245.20 on 29 March 2007.

The small-cap scrip had outperformed the market over the past one month till 18 March 2008, declining 11.19% compared to the Sensex's fall of 17.81%. It had underperformed the market in the past one quarter, declining 31.53% compared to Sensex's decline of 22.31%.

The company's current equity is Rs 28.28 crore. Face value per share is Rs 10.

The current price of Rs 311.65 discounts its Q3 December 2007 annualized EPS of Rs 42.23, by a PE multiple of 7.38.

Pyramid has also set up a joint venture company Jiangsu Pyramid Longzhe Group to operate theatres/distribute films and engage in other entertainment /arts and cultural activities in China.

On 14 March 2008, Pyramid Saimira Theatre entered into a partnership with Europe's Spize TV, a direct-to-home platform, for content and new channels.

Pyramid Saimira Theatre's net profit rose 479.8% to Rs 29.86 crore on 402.5% growth in net sales to Rs 231.42 in Q3 December 2007 over Q3 December 2006.

Pyramid Saimira Theatre is focused on distribution and exhibition of films. Its objective is to have presence in all categories of theatres including malls, multiplexes, cineplexes and standalones across the country in tier I, II and III locations.

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