PVR Plans to Invest Rs.100 Cr

Thebullishtrends: PVR share price closed yesterday at Rs.316. As per latest reports PVR plans to invest Rs.100 Cr to co-produce 6-8 movies by 2009. PVR Production and Distribution said it has got the encourarging response for the co-produced movie "Tare Zameen Par" which was c0-produced with Amir Khan Productions Ltd. PVR group is looking various options for raising money for PVR Pictures and it is likely to brind in a strategic investoror private equity player. The group is targetting for consolidated revenues of Rs.390 cr by next fiscal. It is also planning to foray into overseas distrution rights in 2008.