Picturehouse Media has acquired remake rights of 'Bangalore Days', a Malayalam movie in all Indian languages. The company is pursuing developing a slate of films in all key 3 marquee markets, Hindi, Telugu and Tamil.

In line with the strategic objective, the company anticipates significant value accruing from a block buster film like 'Bangalore Days'.

The company is at an advanced stage of finalizing the casting for both Tamil, Telugu languages and will mount the same in Hindi as well.

The company is currently focusing on developing a rich library of content and is optimistic that this family entertainer, when released, will yield a reasonable return on its investment. However, any commercial updates of the project will be intimated to the stock exchange, as the production of the movie progresses.

Shares of the company declined Rs 0.6, or 3.97%, to trade at Rs 14.50. The total volume of shares traded was 24,405 at the BSE (12.23 p.m., Thursday).