Pyramid Saimira Theatre has acquired a direct-to-home services firm in Europe.

Pyramid Saimira Theatre surged 4.87% to Rs 65.70 at 11:18 IST on BSE on reports a group firm has acquired a direct-to-home services firm in Europe.
The stock hit a high of Rs 71.70 and a low of Rs 64.70 so far during the day. The stock has a 52-week high of Rs 551 on 31 December 2007 and hit a 52-week low of Rs 57.30 on 10 October 2008.
The company’s current equity is Rs 28.28 crore. Face value per share is Rs 10.
The current price of Rs 65.70 discounts its Q1 June 2008 annualized EPS of Rs 19.09, by a PE multiple of 3.44.
As per reports, Spize TV in which the Pyramid Saimira Theatre (PSTL) group holds 51% stake has acquired WorldTV Europe, the direct-to-home (DTH) services subsidiary of France Telecom. PSTL would invest $15 million to integrate the operations of Spize TV and WorldTV, reports suggest
PSTL’s associate company Saimira Access Technologies had earlier this year picked up 51% stake in Spize TV. The balance is owned by Global Asia Partners (GAP) Investments. Spize TV, a registered company in Singapore, launched its operations in 2007 and its DTH platform is called RootsGlobal. WorldTV, a subsidiary of content management and delivery company GlobeCast, is the aggregator and distributor of international television and radio programming in America.
Reports on 14 October 2008 said P. S. Saminathan, one of the promoters plans to buy 24.9% stake in the company from the other two promoters N C Ravichandran and Nirmal Kotecha for around Rs 150 crore. The mode of proposed acquisition will be by a way of inter se transfer of shares. However, the deal will not attract any open offer and the Securities and Exchange Board of India has given a nod for the same.
Pyramid Saimira Theatre’s net profit fell 15.7% to Rs 13.50 crore on 103.9% increase in net sales to Rs 250.15 crore in Q1 June 2008 over Q1 June 2007.
Pyramid Saimira Theatre is focused on distribution and exhibition of films. Its objective is to have presence in all categories of theatres including malls, multiplexes, cineplexes and standalones across the country in tier I, II and III locations.