Buzz Preview: India's INOX Leisure slightly up ahead of Sept-qtr results

PVR INOX

18/10/2022 08:19

** Shares of INOX Leisure Ltd  INOL.NS  open nearly 2.4%
lower before rising as much 1.1% to 506 rupees ahead of its
Sept. qtr earnings announcement on Wednesday
    ** Market leader PVR Ltd  PVRL.NS  on Monday reported a
bigger-than-expected loss of 712.3 million Indian rupees ($8.67
million)
    ** While PVR's revenue rose over five-fold Y/Y, it fell 30%
provisionally as lacklustre Bollywood and Hollywood movie
performances drew fewer crowds, hitting ticket prices
    ** INOL reported a loss of 876.6 million rupees last year
September and a profit of 570.9 million rupees in the previous
quarter, led by big-ticket releases in the three months ended
June 30
    ** India's second-biggest multiplex cinema operator will
soon merge with PVR; INOL got shareholders approval for merger
on Oct. 12
    ** More than 149,000 shares change hands by 0709 GMT vs
30-day avg of over 642,000 shares
    ** 15 of the 17 analysts covering the stock have a "buy" or
"strong buy" rating, while 2 have "hold"; median PT is 665
rupees - Refinitiv data
    ** Stock up 41.6% so far this year up to last close
($1 = 82.1960 Indian rupees)
 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))