homevideos Newsmarket Newsstocks NewsCinemas reopening: Buy Inox and accumulate PVR, says Elara Capital
Cinemas reopening: Buy Inox and accumulate PVR, says Elara Capital
Abneesh Roy of Edelweiss Securities and Karan Taurani of Elara Capital discussed multiplex stocks and weighed in on how much of the good news is already priced in by the market.
The Union Home Ministry on Wednesday issued new guidelines that included permitting opening up cinemas, theatres and multiplexes with up to 50 percent seating from October 15.
Stocks of multiplex operators PVR and INOX Leisure on Thursday jumped up to 18 percent on the back of this news. Shares of PVR zoomed 14.99 percent to Rs 1,395 on the BSE.
Abneesh Roy of Edelweiss Securities and Karan Taurani of Elara Capital discussed these stocks and weighed in on how much of the good news is already priced in by the market.
According to Edelweiss Securities, “In the near term, whenever big states open up the stock can again see positive triggers. Even after today's up move it still almost 35 percent from its peak level.”
Elara Capital said, “Have a structural positive stance on cinemas and a buy rating for INOX Leisure and accumulating rating on PVR. I do expect the prices to move up another 15-20 percent from current prices.”
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