Kalki 2898 AD effect? PVR Inox shares rally 6% today
PVR INOX is expected to show improved operating performance over the next few quarters, B&K Securities said on June 25.
- Jul 1, 2024,
- Updated Jul 1, 2024 3:27 PM IST
Shares of PVR Inox Ltd climbed nearly 6 per cent in Monday's trade on hopes footfalls would pick up for the multiplex chain after a few tepid months on account of T20 World Cup, weak content, heatwave in vast swathes of the country, general elections and IPL.
Adding to the sentiment is the initial box-office collection of science fiction film Kalki 2898 AD, which has crossed Rs 500 crore at the box office, worldwide. The Rs 600-crore movie was released on 27 June in six languages including Hindi, English and four southern languages.
The film made headlines globally and secured a historic feat by becoming the first Indian film to surpass $2.6 million in pre-sales in the US, wherein by advance booking, it ranked among the top four highest-grossing premieres in Telugu and held the record for the second-highest number of screenings.
Following the development, the stock rose 5.95 per cent to hit of Rs 1,512.60 on BSE.
Last month, Elara Securities expected the lifetime domestic gross box office of the film to be in the range of Rs 400-450 crore. It suggested that the share of PVR Inox will be small within this, as it has a mere 8-10 per cent market share in the regional markets (regional movies).
In a note on June 26, a day ahead of its release. Elara suggested that the film may not do strong box office in the Hindi language due to poor advance bookings. PVR Inox has 45 per cent market share in the Hindi genre, wherein Kalki is set to report a muted lifetime BO of a mere Rs 70-80 crore, it suggested.
Nuvama on June 25 said: "The unengaging plot could soon take a turn given likely strong numbers for Kalki 2898 AD (potentially Rs 100 crore India collections on Day 1 this Thursday) and Munjya (likely to clock Rs 100 crore in June itself)."
PVR INOX is expected to show improved operating performance over the next few quarters, B&K Securities said on June 25. "We have been holders on the name, as we believe the company should be bought as a tactical opportunity in anticipation of good content flow."
Shares of PVR Inox Ltd climbed nearly 6 per cent in Monday's trade on hopes footfalls would pick up for the multiplex chain after a few tepid months on account of T20 World Cup, weak content, heatwave in vast swathes of the country, general elections and IPL.
Adding to the sentiment is the initial box-office collection of science fiction film Kalki 2898 AD, which has crossed Rs 500 crore at the box office, worldwide. The Rs 600-crore movie was released on 27 June in six languages including Hindi, English and four southern languages.
The film made headlines globally and secured a historic feat by becoming the first Indian film to surpass $2.6 million in pre-sales in the US, wherein by advance booking, it ranked among the top four highest-grossing premieres in Telugu and held the record for the second-highest number of screenings.
Following the development, the stock rose 5.95 per cent to hit of Rs 1,512.60 on BSE.
Last month, Elara Securities expected the lifetime domestic gross box office of the film to be in the range of Rs 400-450 crore. It suggested that the share of PVR Inox will be small within this, as it has a mere 8-10 per cent market share in the regional markets (regional movies).
In a note on June 26, a day ahead of its release. Elara suggested that the film may not do strong box office in the Hindi language due to poor advance bookings. PVR Inox has 45 per cent market share in the Hindi genre, wherein Kalki is set to report a muted lifetime BO of a mere Rs 70-80 crore, it suggested.
Nuvama on June 25 said: "The unengaging plot could soon take a turn given likely strong numbers for Kalki 2898 AD (potentially Rs 100 crore India collections on Day 1 this Thursday) and Munjya (likely to clock Rs 100 crore in June itself)."
PVR INOX is expected to show improved operating performance over the next few quarters, B&K Securities said on June 25. "We have been holders on the name, as we believe the company should be bought as a tactical opportunity in anticipation of good content flow."