PVR INOX shares climbed 10% to ₹1,245 on Oct 7, setting a new high after two days of gains.
CLSA maintained an Outperform rating, upping its price target to ₹2,135—a 71% upside from the stock’s closing price.
India’s theatrical market is rebounding, with 1,500 movies released annually and a steady uptick in audience attendance, driving multiplex operators like PVR INOX to record better footfall metrics.
The operator has added roughly 300 smart screens in Tier‑3 and Tier‑4 towns, expanding its footprint beyond the 1,800 screens it already controls in the country’s 4,000 multiplex network.
PVR INOX posted a net cash balance and recently completed a ₹300 crore share buyback, underscoring its liquidity and shareholder return strategy.
CLSA projects continued earnings momentum as footfall growth persists; the next earnings report is due on 15 December, with analysts expecting a modest YoY revenue uptick.