Kotak Institutional Equities has upgraded PVR Inox to ‘buy’, while reducing its target price to ₹1,200, implying a 22.4% upside from the current market price (CMP) of ₹980.00.
The brokerage noted that PVR Inox’s stock has declined significantly in recent months due to weak box office collections. While structural challenges persist in the Bollywood industry, an improvement in Hollywood releases in FY26 is expected to drive higher collections.
Despite a depressed content cycle, Kotak highlighted PVR Inox’s focus on cost optimization and capital-light expansion as positive strategic moves. However, the firm cut its FY26-27 EBITDA estimates by 3-13%, reflecting near-term challenges.
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