Solid Box Office Collection For Brahmastra Boosts PVR & Inox Shares, Up 5%

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Solid Box Office Collection For Brahmastra Boosts PVR & Inox Shares, Up 5%
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Shares of the movie theatre chains PVR (NS: PVRL ) and Inox Leisure (NS: INOL ) surged over 5% each on Tuesday in response to a better-than-expected box office performance of the movie Brahmastra Part One: Shiva over the weekend.

The Rs 410 crore-worth Ayan Mukherjee's film surpassed the Rs 150 crore mark in box office earnings within two days of release and its global box office collection stands around Rs 211 crore after the weekend sales.

Over the past two weeks, the two multiplex operators’ scrips have jumped almost 10% amid a good pre-booking period. However, on the day of the movie's release, the two scrips tanked over 7%, aided by mixed reviews from audiences.

Of the 26 analysts covering the PVR stock, 20 recommend a strong buy case on the stock, two have a buy rating, two suggest holding the stock and the remaining two recommend a strong sell, as per Trendlyne data. For Inox Leisure, there are 18 analysts covering the stock, of which 13 recommend a strong buy on it.

Shares of PVR and Inox were last seen trading 3.94% and 4.7% higher.

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