PVR INOX shares jump 4% on witnessing highest-ever daily & weekend admissions and box office
PVR INOX rallied nearly 4% to Rs 1,697 in Monday's trade on BSE after the firm achieved the feat of highest ever single day and weekend admissions and box office. «PVR INOX has achieved the feat of highest ever admissions and box office in a single day across our circuit on August 13, 2023. We entertained 12.8 lakh guests and earned Gross box office revenue of 39.5 crores,» the company said in an exchange filing.
«The weekend of 11-13th Aug’23 was also the biggest weekend ever in Company’s history. We welcomed 33.6 lakh guests at our cinemas and earned Gross box office revenue of 100+ crores during the weekend,» it said. This was achieved on the back of solid box office performances from the stellar content released last week, including ‘Gadar 2’, ‘Jailer’ & ‘OMG2’ and the continued success of content released in earlier weeks including ‘Rocky aur Rani ki Prem Kahani’ and ‘Oppenheimer’ which continued their steady performance.
This record-setting result validates that consumer enthusiasm for experiencing films in an immersive, larger than life, cinematic environment is as strong as ever, PVR INOX said. At 10.45 am, the scrip was trading 3% higher at Rs 1,685 on BSE. The stock also surged nearly 20% in the last one month.
As per Trendlyne data, the average target price of the stock is Rs 1,829 which shows an upside of 9% from the current market prices. The consensus recommendation from 24 analysts for the stock is a Buy. Technically, the stock's day RSI (14) is at 72.9.
The RSI below 30 is considered oversold, and above 70 is overbought, Trendlyne data showed. MACD is at 46.9, which is above its center and signal Line, this is a bullish indicator. PVR INOX Limited is the largest film exhibition company in India with 1708
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