Drishyam 2's box office triggers rally in PVR & Inox Leisure; stocks gain 3%

Multiplex stocks in focus, PVR, Inox Leisure, Drishyam 2: Multiplex stocks – PVR and Inox Leisure – have been in focus on Fridays, as the data suggests these stocks have reported surge in 3 occasions out of 5. Shares of PVR and Inox Leisure today jumped 3 per cent each, rising to Rs 1875 apiece and Rs 545 apiece, respectively, on the exchanges on the intraday basis.

The current uptrend in PVR and Inox Leisure stock prices has come on the back of the success of Drishyam 2, which has brought viewers back to the silver screen. The second edition of Ajay Devgn and Tabu starrer is the sequel to Drishyam (part 1) released in 2015.

There have been big ups and downs in both companies’ stock, a Zee Business research analyst Devesh Advani said. He added that multiplex stocks are in focus again with the release of new movies almost every Friday emerging post-COVID.

*Friday to Friday % change

According to Advani, it’s a very rare instance that there has been so much hype among fans about the sequel of a film as movie-goers thronged to watch Drishyam 2, after Bahubali 2.

The report suggests that Drishyam 2 is scaling heights at the box office as the figures are showing an increase in footfall at the box office.

Drishyam 2 has already collected Rs 104.6 crore at the Box Office, which is more than double the estimated cost of the film at Rs 50 crore.

*Friday to Friday % change

Besides Drishyam 2, other movies such as Amitabh Bachchan starrer Unchhai and Kannada dubbed Kantara also had a good collection at the box office, which eventually helped PVR and Inox Leisure's share price gain.

Upcoming movies like Bhediya, An Action hero, Pippa, Avatar 2022, Circus, and Ganpath are also likely to contribute to the PVR and Inox Leisure’s business, eventually helping the stock price to witness a rally, the research analyst also quoted.

In the last five sessions, both PVR and Inox shares have jumped between 7-8 per cent on the exchanges.