Cinevista board to write off investments in 3 inactive subsidiaries on Sept 22

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CINEVISTA · price

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Price reactionminutes from the announcement price · days from the prior close

+3.5%Reaction day

₹13.72

prior close

₹13.86

announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used+0.8%+2.7% vs market

Residential Commercial Projects peers, median of 65sector+0.5%+3.0% vs sector

On the reaction day the stock moved 2.7 pts more than Nifty Microcap 250 and 3.0 pts more than its Residential Commercial Projects peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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Sessions after the filingfrom the prior close

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Reaction day

+3.5+0.8+2.7+0.5+3.0

Next day

+2.8+2.5+0.3+1.1+1.6

+4.6+2.3+2.3+1.5+3.1

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UpDownMarket · Nifty Microcap 250Sector · Residential Commercial Projects peers, median of 65Pending

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AI summary

Cinevista board will meet on Sept 22 to approve 100 percent write-off of loans, advances and long-term equity investments in three inactive subsidiaries: Chimera Entertainment, Heritage Productions, and Cinevista Eagle Plus Media. These subsidiaries have been inactive for 10 years with fully eroded net worth. The board will also seek voluntary strike-off of Chimera and Heritage Production. No external commercial debts or statutory liabilities are pending against them.

Likely market impact

Negative for standalone books as investments in dormant subsidiaries are fully written off, though there is no cash outflow and no external liabilities remain.