Shares of multiplex operators PVR and slumped by up to 6 per cent after mixed reviews of the movie Brahmastra, Shares of PVR tanked to Rs 1825.55, down 5 per cent over the previous close whereas shares slipped 6 per cent to Rs 487.75 apiece on the NSE.

Ahead of the release of the movie, starring Ranbir Kapoor and Alia Bhatt, both the stocks rallied up to 4 per cent in a week.

Apart from this, multiplex operator PVR has convened a meeting of its shareholders as well as creditors on October 11 to seek their approval for the scheme of merger with Inox Leisure, pursuant to the order of the National Company Law Tribunal’s Mumbai Bench.

In March this year, PVR and Inox Leisure informed of the merger for setting up the country’s largest multiplex chain.

As per the Trendlyne data, out of 26 analyst recommendations on the stock of PVR, 20 have a strong buy two have buy rating, two have sell and another 2 have strong sell.

In the case of Inox, out of 18 analysts covering the stock, 13 have a strong buy on the stock.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)


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By Dipak

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