Shares of cinema chain operators PVR and Inox Leisure were trading firm on Monday ahead of long weekend and blockbuster line up.
PVR was trading 2 per cent up at Rs 739.95 (11.33am). The scrip opened at Rs 726.95 and touched a high and low of Rs 741.60 and Rs 726.95, respectively, in trade so far.
Inox Leisure shares were trading 3.49 per cent up at Rs 210.50 at the same time. The scrip opened at Rs 204.05 and has touched a high and low of Rs 210.50 and Rs 203, respectively, in trade. The 30-share Sensex was trading 36.12 points down at 24,637.72.
There are a few movies lined up this summer, including Walt Disney’s already-released “The Jungle Book” and Yash Raj Films’ “Fan”, slated for release on April 15.
The Jungle Book movie has witnessed the second biggest opening weekend of 2016, after Airlift. It saw a collection of total Rs 40.19 cr net till now, inculding Rs 10.09 cr(on Fridays- its release day), Rs 13.51 cr (Saturday), Rs 16.59 cr (Sunday), tweeted movie trade analyst Taran Adarsh.
According to market analysts, March quarter earnings are expected to be weak for exhibitors due to school exams and delay in good content release.
(With inputs from Reuters)