Brahmastra: PVR & INOX Witness A Boost In Shares As The Film Goes Past 200 Crores At The Box Office Globally!
Ever since Ayan Mukerji’s directorial and Alia Bhatt and Ranbir Kapoor starrer Brahmastra has been released on September 9, it has been receiving mixed responses from the audience. Some lauded the concept, the VFX, and acting, while a few couldn’t take the same old dialogues and love story. However, amid this, the film is rocking at the box office.
The film crossed 200 crores at the worldwide box office in the opening weekend. It had touched 160 crores within two days of its release on the global market. Owing to this, PVR and Inox have witnessed a 5% boost in their shares. For the unversed, apparently, the film is made on a humongous budget of 410 crores.
An analyst at Edelweiss shared an opinion and said, “We continue to track the PVR and Inox merger, which would yield a lot of synergy benefits. Multiplexes have come together to celebrate the ‘National Cinema Day’ on 16th September (Friday), offering tickets at just ₹75. For improvement in performance of multiplexes, it is important that audiences redevelop the habit of watching movies in cinemas, instead of OTT platforms. Strong numbers for Brahmastra is a welcome sign for the industry, but key question is – will the producers of Brahmastra make money? It is important for the industry’s long-term health.”
On the other hand, PVR and Inox Leisure are gearing up for their merger to create a large multiplex chain with a network of more than 1500 screens in tier III, IV and V cities. To get the final approval, PVR has called a meeting with the shareholders and creditors on October 11.
A while back, there were reports that claimed that Inox and PVR’s share prices have tanked due to the negative aspect attacking Brahmastra. A report in Business Insider also mentioned that the cinema chains have lost 800 crores. However, the PVR CEO Kamal Gianchandani brushed out all the rumours and denied the reports.
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