Chhatrapati Shivaji Maharaj played a key role in reviving nationalism and the brokerage firm Nuvama Institutional Equities believes that the movie Chhava, based on his son’s achievements has revived the spark in Indian cinema. Following the stupendous box office collection for Chhaava, Nuvama expects a 96% upside in PVR Inox’s share price.
It has a target of Rs 1,765 on the share price against a current level of Rs 900. The brokerage kept the ‘Buy’ rating unchanged—Nuvama’s confidence in the stock stems from the strong uptick in the first two months after Chhaava was released. 2025 has started on an exciting note as box office collections jumped 39% year-on-year in January-Febrauray to Rs 2,264 crore. According to the brokerage, February 2025 has been the highest-grossing month after COVID-19 for Bollywood at Rs 1,245 crore.
ALSO READStock Market Live Updates: Steady start for the markets, Nifty above 22,600, Sensex up 300 points; Hindalco, ICICI Bank top gainers Nuvama on PVR Inox: Strong box office collection
“The Hindi movie industry, which has been struggling, has seen a revival; consistency will be important to track (Chhaava made up 53% of Feb-25). This highlights audiences are eager to watch in cinemas if the content is compelling,” said Nuvama.
Not just that the company promoters have bought shares, which makes 0.03% of total capital. To be sure, promoter buying is in small amounts, but this is a positive indicator for minority investors after a few rounds of promoter selling and pledging.
Nuvama on PVR Inox: Encouraging pipeline of new releases
Going forward, Nuvama expects Q4 FY25 to be stronger than the initial expectations. As Chhaava revived the mood, a movie like Sikandar is set for a release during the end of the quarter, which is anticipated to deliver strong opening numbers. It is not just Bollywood, the Hollywood lineup is also there to help numbers. The pipeline includes Hollywood movies such as Thunderbolts and First Steps.
ALSO READNMDC dividend payout: Check record date and 4 key factors that investors need to watch PVR Inox Q3 result
The company reported a 180% YoY growth in its consolidated net profit to Rs 35.9 crore for the third quarter of FY25, as against a net profit of Rs 12.8 crore in the same period last year. However, the company reported a net loss of Rs 11.8 crore in Q2 FY25.
» Read More
