PVR shares jump 10% in 2 days - What's driving this multiplex stock? Explained

Shares of PVR jumped 10 per cent in the last two trading sessions, while the stocks of the entertainment company were trading with gains of Rs 27 at Rs 1754 on BSE in Tuesday's intraday trade. Talking about this sudden spike in the shares of the company that runs a chain of multiplexes, research analyst Kushal Gupta told Zee Business Managing Editor Anil Singhvi that not just but entire multiplex space is in focus now.  

"This is primarily because of theatrical window, which ensures certain gap between release of a movie on a theatre and on any other platform. The easing of lockdown is helping multiplexes across the country. This window is expected to reach pre-covid levels of 8 weeks from existing 4 weeks during the lockdown. This will allow theatres to register high footfall during the 8-week period, ultimately helping these listed players, including PVR and Inox" said Kushal.  

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Kushal said there are four big budget movies lined up to be released in theatres in November alone. Besides, Ranveer Singh-starrer Kapil Dev biopic '83' will also be released on the eve of Christmas.  

2 दिन में 10% क्यों उछला PVR?
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जानिए पूरी रिसर्च कुशल गुप्ता से...@AnilSinghvi_ | @KushalGupta44 | #PVR #StockMarket | #StockMarketNews pic.twitter.com/rIm7lvetqh

— Zee Business (@ZeeBusiness) October 26, 2021

Shares of this entertainment segment has hit a 52-week high of Rs 1797.55 on October 18, while it recorded year-ow of Rs 961 on April 19, 2021 on BSE.  

PVR Ltd. is the market leader in terms of screen count in India. Currently, it operates 846 screens in 176 cinemas in 71 cities in India and Sri Lanka with an aggregate seating capacity of approximately 1.82 lakhs seats, claims PVR. 

The company has consistently added screens through strategic investments and acquisitions which includes ‘Cinemax Cinemas’ in November 2012, ‘DT Cinemas’ in May 2016 and ‘SPI Cinemas’ in August 2018 which added 138 screens, 32 screens and 76 screens respectively.