Rs 50,00,00,000 project: Multibagger penny stock under Re 1 hit the upper circuit as the company signs MoU with Omkar Films and Raj Television
The stock gave multibagger returns of over 100 per cent from its 52-week low of Re 0.40 per share.
GV Films has announced a significant investment of Rs 50 crores to revitalize its film library for the digital age. The company has partnered with Omkar Films and Raj Television to acquire, restore, and compile a vast collection of 5,710 Tamil, Hindi, and Telugu films. These classic movies will undergo a comprehensive digital overhaul to meet contemporary OTT standards. Once completed, this extensive library will be made available through GV Films' own OTT/IPTV platform or through licensing agreements with other established OTT platforms both domestically and internationally.
This strategic initiative serves multiple purposes. On one hand, it demonstrates GV Films' commitment to preserving and promoting the rich heritage of Indian cinema. By restoring these classic films, the company aims to introduce them to a wider audience and ensure their legacy endures for future generations. On the other hand, this venture positions GV Films as a key player in the digital distribution of classic Indian content. The upgraded library represents a valuable asset and a substantial intellectual property portfolio, allowing the company to capitalize on the growing demand for regional and evergreen films on OTT platforms.
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About the Company
GV Films Ltd is a multifaceted entertainment company established in 1989. It primarily engages in the production and distribution of feature films across various languages through its 'One Window' division. Additionally, the company owns and operates a chain of five movie theatres in Thanjavur, Tamil Nadu, demonstrating its involvement in the film exhibition sector as well. The company has a market cap of over Rs 80 crore.
On Friday, shares of GV Films Ltd jumped 10 per cent upper circuit to Re 0.97 per share from its previous closing of Re 0.89 per share. At the closing bell, shares of the company were trading at Re 0.91 per share, up 2.25 per cent with a spurt in volume by more than 6.50 times on BSE. The stock gave multibagger returns of over 100 per cent from its 52-week low of Re 0.40 per share.
Disclaimer: The article is for informational purposes only and not investment advice.
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