Shares of Panorama Studios International, a film production company, have experienced a remarkable surge of nearly 950 percent over the past year.
The spotlight recently shone brightly on this smallcap stock following actor Ajay Devgn's involvement in a preferential issue of shares, where he purchased 1 lakh equity shares of the film production company, amounting to a total investment of Rs 2.74 crore. Devgn was one of nine investors who collectively injected Rs 24.66 crore into the company through the preferential share allotment.
As of 1:22 pm, the stock was trading 3.33 percent higher at Rs 980 per share, having witnessed a substantial increase of almost 14.5 percent over the past five trading sessions.
For a month, the stock has demonstrated a notable gain of nearly 46 percent and an impressive surge of 283 percent for six months. Year-to-date, Panorama Studios International stock has surged by over 165 percent, while over the past year, it has delivered impressive returns of close to 950 percent.
This recent upward trajectory in the film production company's share price can be attributed to its announcement regarding the execution of production agreements with Humble Motion Pictures FZCO and Reliance Industries, facilitated through its media and entertainment division (Jio Studios), for the production of three Punjabi movies.
