Inox Leisure rallies 12% hits 52-week high as RRR hits cinemas
Published On: Friday, March 25, 2022 | By: Team KnowMyStock
Shares of Inox Leisure hit a 52-week high of Rs 496.8, surging 12 percent on the BSE in Friday’s intra-day trade, as the much-anticipated SS Rajamouli's big-budget movie RRR opened in cinemas, with both PVR Ltd and Inox Leisure Ltd stocks hitting over a 25-month high. The stock has been able to hold its ground as pandemic-related restrictions eased and a strong content line-up, ready to be released over the next few months, improved business outlook."A robust revival is on the cards for the multiplex industry. Cinemas have now reopened pan-India and most key states are permitting full occupancy. Multiplex ticket prices are up 14 percent, with a similar recovery across cities. The declining share of single screens remains an opportunity, Edelweiss Research said in a note to investors.
Recently, CRISIL Ratings has revised its rating outlook on the long-term bank facilities of INOX Leisure to 'Stable' from 'Negative' and has reaffirmed its 'CRISIL A+' rating. The short-term rating has been reaffirmed at 'CRISIL A1'.
INOX has partnered with Kitchens of India by ITC to offer Indian cuisine and expand its menu.
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