Bombay Stock Exchange has stepped in to check the sharp surge in multiplex operator PVR shares, which have been seeing a gain of up to 20 per cent over the past few days, allowing a movement of maximum 10 per cent in a day.
The circuit limit for PVR shares has been revised to 10 per cent from 20 per cent, a BSE circular said.
The revised circuits limits of PVR are Rs 322.95 on the upper side and Rs 264.25 on the lower end.
The scrip had on Wednesday gained 20 per cent to leap to an intra-day high of Rs 329.20, touching its upper circuit limit and an all-time high.
However, the scrip had pared gains during the day to settle at Rs 293.60 the same day. A total of 10.16 lakh equity shares had changed hands at the BSE.
From the past week the PVR scrip had been touching new all-time highs each day. On November 23, the scrip had surged to an intra-day high of Rs 232 gaining 17 per cent. The scrip has gained constantly for the last four days, jumping from Rs 218 quoted on November 23 to Rs 293.60 on Wednesday.
The scrip was trading at Rs 290, down 1.23 per cent in the afternoon trade at the BSE on Thursday, while it touched an intra-day high of Rs 308 in the early trade.
The circuit filters of seven other stocks, including Amal Ltd and Coral India Finance whose limit have been revised to five per cent and SKS Logistics, Narendra Properties, SKS Logistics, Morganite Crucible’s to 10 per cent.
