Shares of PVR Inox Ltd. surged 4% after Nuvama Institutional Equities reiterated its Buy rating on the stock, setting a target price of ₹1,765. The bullish outlook comes as the cinema chain kicks off CY25 on a high note, driven by a resurgence in box office collections.
After a sluggish CY24, the first two months of the new year have seen an impressive 39% year-on-year (YoY) jump in box office revenues, reaching ₹22.64 billion. The standout performer, Chhaava, accounted for 53% of February’s box office earnings, underscoring that audiences remain eager for theatrical experiences when presented with compelling content. February 2025 also marked the highest-grossing February since the pandemic, with collections soaring to ₹12.45 billion.
The revival in the Hindi film industry has further fueled optimism, although analysts caution that a sustained performance is necessary for long-term growth. Moreover, recent promoter buying in PVR Inox, albeit in small quantities, is being viewed as a vote of confidence. With a strong Q4FY25 lineup and an exciting Hollywood slate in the pipeline, PVR Inox is well-positioned to capitalize on growing audience demand for theatrical releases.
Shares of PVR INOX opened at ₹920 on Tuesday, reaching a high of ₹944.25 and a low of ₹910.75 during the session. The stock remains under pressure, significantly below its 52-week high of ₹1,748, while staying above the 52-week low of ₹866.30.
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