Stocks of companies such as PVR, Inox Leisure and Bharti Airtel may see some action on Friday with the release of Tamil superstar Rajinikanth movie 'Kabali'.
Stocks of companies such as PVR, Inox Leisure and Bharti Airtel may see some action on Friday with the release of Tamil superstar Rajinikanth movie ‘Kabali’. Multiplex-chain operator PVR is the pan-India official partner for the movie Kabali and has exclusive rights to sell ‘Kabali’ merchandise at cinema halls. At 9.19 am, shares of PVR were trading 2.64 per cent up at Rs 1121.05.
Telangana has already decided to exempt entertainment tax on the movie while many officers are allowing staff to take leave on the date of the release. The move may benefit other multiplex chain operators like Inox Leisure. Shares of PVR and Inox Leisure closed 1.03 per cent and 2.43 per cent up at Rs 1,092.25 and Rs 252.60, respectively. Several companies in Chennai and Bengaluru have also declared holidays on Friday.
Inox Leisure shares were trading higher by 0.16 per cent in the early trade.
According to reports, Kabali will be showcased on over 650 screens in Tamil Nadu, 500 in Andhra Pradesh, 250 in Karnataka, 300 in Kerala and close to 1,200 screens in other parts of the India. Besides, it will be aired in close to 1,000 screens in the other countries.
To cash in the opportunity, telecom major Bharti Airtel on July 12 had already launched ‘Kabali’ exclusive products and services for customers. Shares of the company closed 0.84 per cent up at Rs 366.90 on Thursday. Shares of Bharti Airtel were trading 0.26 per cent up at Rs 367.85 in the early trade on Friday.
According to the website of PVR Cinemas, Kabali is a gangster film starring Rajinikanth and Radhika Apte in the lead. The film shows the victory of good over evil.