PVR Inox share: Last Friday, there was a huge demand for some shares amid the fluctuations in the stock market. One such share is PVR Inox Limited. This share rose by more than 4% on Friday and the price crossed Rs 1660. At the same time, the closing price was Rs 1654.20. A rise of 3.74% was seen in the closing as compared to the previous day. Let us tell you that the 52-week high of the share is Rs 1,829.
Experts are bullish
Experts seem bullish on the stock of PVR Inox Limited. Domestic brokerage ICICI Securities expects PVR Inox to show its strongest quarterly performance in the October-December quarter (Q3) of the current financial year 2024-25. In view of this, the brokerage has advised to buy the stock of PVR Inox. The brokerage has set a target price of Rs 2,250 for the stock. This means that the stock can go beyond the 52-week high.
what did the brokerage say
ICICI Securities said- We believe that the company is likely to benefit from a strong content line-up in the third quarter of FY25. During this period, multi-starrer films like ‘Pushpa 2’, ‘Bhool Bhulaiyaa 3’ and ‘Singham Again’ will be released. In fact, five mega budget films (regional + English) are going to be released in this quarter. These films will be a special gift for the audience on major festivals like Diwali and Christmas.
PVR Inox plans
PVR Inox, which runs cinemas, plans to close 70 loss-making screens in the financial year 2024-25. The company will also add 120 new screens in the financial year 2024-25. It is looking for opportunities where there are good growth prospects. According to the information, about 40 percent of the new screens will be opened in South India.
Focus on becoming debt free
Let us tell you that PVR Inox is re-framing its growth strategy to reduce its capital expenditure on new screens by 25 to 30 percent in the current financial year. The company is also exploring the possibility of monetizing the real estate owned by it and has set a target to become a debt-free company in the near future.