India's PVR INOX hits over 8-month high; Anand Rathi hikes PT

PVR INOX

16/09/2024 09:53

** Multiplex operator PVR INOX  PVRL.NS  rises as much as 3%
to 1,704.15 rupees, the highest since Jan. 4
    ** Anand Rathi Research retains "buy", raises PT from 1,750
rupees to 2,065 rupees, a 24.8% premium to last close
    ** Expects sequential improvement from Q2 and a good Q3
backed by several blockbusters
    ** About 10% of the new screens added in FY25 and 20-25% in
FY26 would be in the form of management-fee and revenue-sharing
models
    ** Mean rating of 20 brokerages is "buy"; their median PT is
1,754 rupees - LSEG
    ** PVRL gains 2.3% YTD

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))