Tag: inox

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. Read more

Shares of multiplex owners Inox Leisure and PVR climbed up to 18 percent and hit their respective 52-week highs on the BSE in intra-day trade on Monday after the Maharashtra government announced the reopening of cinema halls and drama theatres in the state from October 22, ahead of Diwali. Stock market participants are further bullish on the multiplex stocks on the back of the reopening theme. However, they will start operations at 50 percent strength. So, it is still two to three quarters more when these theaters will start their operations at 100 percent strength. Maharashtra is one of the largest markets for cinema theatres with a contribution of around 25 percent of the Hindi box office revenue. Theatres and movie halls across India have been closed since April this year. Chief Minister Uddhav Thackeray in a tweet said the standard operating procedure (SOP) for the reopening was in the works and would be announced at the earliest. Read more

Shares of multiplex operators like Inox Leisure and PVR rallied up to 17 per cent on the BSE on Thursday after the government allowed cinema halls to operate with 50 per cent seating capacity under 'Unlock 5' rules released by the Home Ministry from October 15 outside containment zones adhering to the Standard Operating Procedure (SOP). Following the government's order - PVR shares rallied as much as 14 per cent to hit an intraday high of ₹ 1,395 and Inox Leisure surged as much as 18 per cent to hit an intraday high of ₹ 318.20. About 9,500 theatres have remained shut since the nationwide coronavirus lockdown started in late March. Movie industry representatives in Bollywood have said it would take at least two years for them to recover financially from the pandemic, putting tens of thousands of jobs at risk. Many big-budget Bollywood movies have been getting pushed to the next fiscal year, as falling box-office collections made production houses face a liquidity crunch. Read more

Shares of entertainment exhibition companies PVR and Inox Leisure declined up to 11 per cent on the BSE on Tuesday after reporting weak earnings for the quarter ended March 2020 (Q4FY20), impacted by the outbreak of Covid-19 in the last month of the quarter.PVR share price slipped up to 8 per cent to touch the day’s low of Rs 1,064 apiece on BSE, while Inox Leisure share price fell 11 per cent to Rs 248 a piece in today’s session. PVR reported a consolidated net loss of Rs 74.61 crore for the fourth quarter ended March 31The company had posted a net profit of Rs 46.75 crore in the January-March quarter a year ago. Consolidated revenues were down 22 per cent YoY at Rs 662 crore as compared to Rs 846 crore during the corresponding period of last year.PVR expenses were at Rs 731.84 crore in the fourth as against Rs 771.27 crore a year ago. The board of directors of PVR has approved the fundraising of up to Rs 300 crore through a rights issue. Read more