PVR Inox Shares Rise Nearly 8% As Dhurandhar Success, Release Of 'Avatar: Fire And Ash' Draw Optimism
The company has also opened five new screens at Inorbit Mall, Cyberabad, Hyderabad, transforming the cinema into an 11-screen superplex.
PVR Inox Ltd. shares rose nearly 8% on Monday after the release of Dhurandhar and the release Of Avatar Part 3 draws optimism. The stock snapped its seven consecutive sessions of decline.
The Aditya Dhar directed spy thriller recorded the highest second Saturday collection in Hindi cinema with Rs 53 crore on Dec. 13. The movie in total has cross the Rs 350 crore mark so far, with a sequel already confirmed for release in March 2026.
In addition to the Hindi hit, Avatar Part 3 is set to be released on Dec. 19. This is expected to further boost the number of ticket sales in the coming week. Apart from this there is a strong launch pipeline of Hollywood and Bollywood movies set to release in the next year, helping the company increase its ticket sales.
Analysts also expect the third quarter to be strong on operational front. The company has also opened five new screens at Inorbit Mall, Cyberabad, Hyderabad, transforming the cinema into an 11-screen superplex.
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PVR Inox Share Price Today
The scrip rose as much as 7.8% to Rs 1,134 apiece on Monday, the highest level since Dec. 3. It pared gains to trade 4.77% higher at Rs 1,102.10 apiece, as of 12:40 a.m. This compares to a 0.09% decline in the NSE Nifty 50 Index.
It has fallen 24% in the last 12 months and 15.24% year-to-date. Total traded volume so far in the day stood at 6.9 times its 30-day average. The relative strength index was at 58.54.
Out of 21 analysts tracking the company, 16 maintain a 'buy' rating, four recommend a 'hold,' and one suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target of Rs 1,334.25 implies an upside of 21.1%.
