Pyramid Saimira forays into Malayalam film industry

Pyramid Saimira Theatre Ltd has announced that its foray into the Malayalam film Industry. As the first step towards their entry into Kerala film Industry, the Company plans to lease theatres in all the release stations located at Thiruvanthapuram, Kannur, Tellicherry, Badgara, Payyanuar, Manatvady, kalpeta, Battery, Alleppy, Punalur, Anchal, Varkala & Karunagpally in Kerala.

The Company plans to Invest initially Rs 25 crores as part of their foray into Kerala. Pyramid Saimira Productions Ltd, Production unit of the Company plans to produce over 10 Malayalam films annually. Further. it will also buy another 10 films, The Company has received the national distribution rights for the much-awaited movie Pardesi, featuring Super Star Mohanlal, which is slated for release on October 12. The Company will also distribute Ram Gopal Verma's ki Aag, featuring Amitabh Bachcan and Mohanlal, slated for release on August 31, across the State of Kerala.

Speaking at the occasion, Mr. V Natarajan, Chairman, of the Company said, "Malayalam movies are known for their ethnic values and artistic nature which I feel is one of the main reasons for them to frequently figure in the national film awards. Our aim is to provide wholesome family entertainment to all cine-goers. Some of the best known directors and actors in the South Indian film industry have been groomed here and we are sure that we will see many more such brilliant directors and actors finding their footing in Malayalam cinema. Kerala is a very important market for the film industry and we are extremely happy to extend our operations here."

The stock was trading at Rs.256.80, down by Rs.18.65 or 6.77%. The stock hit an intraday high of Rs. 279 and low of Rs.256.80. The total traded quantity was 25532 compared to 2 week average of 95868.

Source : Equity Bulls

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