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Multiplex Stocks
PVR and Inox Leisure stocks must defend key levels to avoid turning bearish, show technical charts
A regular multiplex typically has 4-5 screens per property. Larger ones may go up to 7-8 screens at a single location
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Experts believe the current news cycle may keep the stock prices of related players volatile in the near term, but any fundamental or direct impact, in the long run, remains improbable.
Soon after the news of rising Covid-cases in parts of India, diagnostic and multiplex stocks moved in opposite directions on Monday. Find out analysts' views on the two sectors and if should you worry
PVR and Inox have seen strong bounceback led by compelling movie content, rise in average ticket prices, and food and beverage (F&B) revenue per head surpassing pre-pandemic levels
Shares of multiplex restaurant owners are likely to be in focus on easing of Covid-19 related curbs in Maharashtra.
While January could be a washout, footfalls are expected to recover once the virus impact wanes
These stocks have corrected between 10-20 per cent over the last one month relative to benchmarks' 3 per cent fall. Here's a possible way forward for these stocks
More state governments could join Maharashtra in easing restrictions ahead of the festive season
As single screen closures could accelerate, PVR could emerge stronger relative to most other cinema operators and may be well placed to capitalize on likely pent-up demand
Continued restrictions for more than 3-4 months and lower-than-expected ramp-up in occupancy post lifting, resulting in higher-than-expected cash loss.
There are opportunities for contrarian investing in commodity producers, corporate banks, select mid corporates and small enterprises
Amid second wave of Covid-19 in India, analysts believe investors will be better off if they avoid QSR, multiplex, or travel-related stocks till the situation improves
In the December quarter, PVR posted a net loss of Rs 49.10 crore as it continued to be impacted by the Covid-19 pandemic
Over the weekend, the UK said it had identified a new strain of Covid-19 which spreads more quickly than previous variants
The state accounts for a fifth of the screens for PVR and Inox Leisure
This will benefit multiplex companies as box office revenue from Maharashtra state constitutes around 30 per cent of total revenue for Hindi films
Company sharply reduces employee costs and rental charges, but has to offer heavy discounts on tickets and snacks
The 50 per cent capacity, given under Unlock 5.0, is unlikely to make up for the losses already incurred in the past six months, say analysts