India's PVR Inox set for steepest rise in 7 months on high-grossing film boost

PVR INOX

18/03/2025 07:48

** Indian multiplex operator PVR Inox PVRL.NS jumps 4.3% to 940 rupees, on track to log best day since mid-August

** Brokerage Nuvama says February 2025 has been the highest-grossing February post-pandemic for the Bollywood film industry with box-office collections of 12.45 bln rupees (~$144 mln)

** Adds, promoters have slightly increased their stake by 0.03%, which is small but sends a positive signal to minority investors, especially after previous rounds of stake sales and pledged shares

** Says box-office collections in January-February jumped 39% y/y to 22.64 bln rupees, led by the release of "Chhaava" movie

** 19 analysts covering the stock on avg have a "buy" rating; median PT is 1,600 rupees - data compiled by LSEG

** Day's gains trim monthly fall, stock now down 0.3% in March

($1 = 86.7140 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)

 ((Manvi.Pant@thomsonreuters.com; +918447554364;))