India's PVR INOX climbs on record single-day box office revenue

PVR INOX

14/08/2023 06:09

** Shares of India's movie operator PVR INOX  PVRL.NS  up as
much as 3.55% at 1,697 rupees, highest since Feb. 20
    ** Co said it earned gross box revenue of 395 million rupees
($4.76 million) on Aug. 13, highest single-day rev ever 
    ** Weekend of Aug. 11-13 was biggest weekend ever in co
history, PVRL said in an exchange filing
    ** Shares trading above 50-day and 100-day simple moving
averages since July 24, indicating bullish momentum 
    ** PVRL's Q1 revenue rose on the back of Hollywood releases
after it said it was betting on "Barbenheimer" to pack its halls
with moviegoers
    ** More than 867,414 shares changed hands by 10:38 a.m. IST,
 0.9x 30-day avg 
    ** Mean recommendation of 24 analysts on PVRL is "buy",
median TP is 1,950 rupees 
    ** YTD stock has fallen ~2% 

($1 = 82.9625 Indian rupees)

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))