Shares Of Multiplex Chains Like PVR & Inox Leisure Surges As SS Rajamouli’s RRR Hits Theatres(Pic Credit: RRR Poster)
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SS Rajamouli’s much-awaited RRR, starring Ram Charan, Jr NTR and Alia Bhatt in the leads have hit cinemas today. As per reports coming in since the morning, the film has enjoyed an advance booking of approx. Rs 59 crore Gross (including sales from all the languages) and has even collected $3 million aka Rs 22 crore for its premiere numbers.
Well, these numbers are something the makers and the industry as well as all those who have invested in the shares for multiplexes. Wondering why? Well, as per reports just coming in, the box office craze of Rajamouli’s action period drama has led to a surge in the shares of multiplex chains like PVR Ltd and Inox Leisure. Read on for details.
As per moneycontrol article, the release and box office craze of SS Rajamouli’s big-budget RRR has seen a surge in the shares of multiplex chains on March 25. This surge has led to the stocks of multiplex chains PVR Ltd and Inox Leisure Ltd hitting a 25-month-high. The reports stated that while Inox Leisure Ltd hit Rs 479 – a number that was last seen on February 26, 2020; PVR Ltd rose to Rs 1,839 – a number it last hit on February 28, 2020, on the BSE (Bombay Stock Exchange).
As per the report, at 11 am – after the release of RRR, Inox Leisure was up 6 percent at Rs 468. The stock has gained in five of the past six sessions and has advanced nearly 17 percent. PVR rose 3 percent to Rs 1,827 a share. Since March 7, the stock has surged nearly 22 percent and has climbed 41 percent this year.
The site also reported Edelweiss Research said in a note to investors, “A robust revival is on the cards for the multiplex industry. Cinemas have now reopened pan-India and most key states are permitting full occupancy. Multiplex ticket prices are up 14 percent, with similar recovery across cities. Declining share of single screens remains an opportunity.”
Analysts said the spend per head (SHP) and average ticket price (ATP) have both already gone beyond pre-Covid levels. In fact, the tickets of RRR are being sold at a whopping Rs. 2100 per seat at some places. After the success of Telugu action-drama Pushpa in other languages southern producers have been looking at a pan-India market.
Said to have a cost of whopping Rs 336 crore (excluding GST and salaries of actors), the SS Rajamouli films stars Ram Charan, Jr NTR, Alia Bhatt and Ajay Devgn along with Samuthirakani, Alison Doody, Ray Stevenson, Olivia Morris and Shriya Saran.
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