India's PVR Inox falls on wider-than-expected Q4 loss

PVR INOX

14/05/2024 10:52

** Shares of India's largest multiplex operator PVR Inox
 PVRL.NS  fall as much as 2.6%, last down 1.4% at 1,297.3 rupees
    ** PVRL posts Q4 consol net loss of 1.3 bln rupees ($15.6
mln) vs analysts avg estimate of 835.9 mln rupees loss, per LSEG
data
    ** Co announced strategic partnership with Devyani
International  DEVY.NS  for operating food courts in shopping
malls in India
    ** Shares of PVRL down in the last three weeks, losing ~10%
during the period
    ** Stock trading below its 50-day, 100-day, and 200-day SMAs
since January, indicating bearish sentiment
    ** Trading vol is 2.7x the 30-day daily avg, logging most
active session since Aug. 14, 2023
    ** Avg rating of 22 analysts is "buy", median PT is 1,885
rupees, ~45% higher than current price - LSEG data
    ** Stock down ~22% YTD  



($1 = 83.4870 Indian rupees)

 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com ;))