{"id":102104,"date":"2023-04-26T16:41:00","date_gmt":"2023-04-26T11:11:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=102104"},"modified":"2023-04-26T17:40:28","modified_gmt":"2023-04-26T12:10:28","slug":"pvr-inox-touches-new-52-week-low-after-amalgamation-check-the-latest-target","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/pvr-inox-touches-new-52-week-low-after-amalgamation-check-the-latest-target\/","title":{"rendered":"PVR Inox touches new 52 week low after amalgamation; Check the latest target\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2862117390\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Multiplex chains PVR Ltd and Inox Leisure Ltd had announced a merger last year. This happened after the industry was hit hard by closures due to the pandemic that wiped out a lion\u2019s share of the industry\u2019s revenue. Moreover, the rise in the consumption of OTT content added fuel to the fire. OTT platforms in India obtained subscribers at an alarming rate.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4272485928\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>PVR and INOX joined forces and the combined entity now controls a 50% market share of India\u2019s multiplex industry. This merger was aimed at combating the competition between multiplexes and OTT platforms.&nbsp;<\/p><p>According to an exchange filing, the merger is on the verge of completion. The merged entity has been renamed as \u201cPVR INOX Limited\u201d with effect from April 20, 2023. It now operates the largest multiplex network with 1683 screens at 360 properties in 115 cities (India and Sri Lanka). The name of the company has not yet been changed on the exchanges and it will be done in due course.&nbsp;<\/p><p>PVR Inox\u2019s shares closed at \u20b9 1447.00 apiece, down 2.14% on the National Stock Exchange (NSE) on Wednesday. They reached a 52-week low of \u20b9 1438.10 apiece during intraday trades.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-2758134915\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>In the past year, the company\u2019s share price fell by 19.05%. A major reason for the fall is the selling by foreign institutional investors (FIIS). They trimmed their holdings in the company from 41.93% in the December quarter of 2022 to 31.20% in the March quarter of 2023, given unfavourable developments in global markets.&nbsp;<\/p><p>Moreover, the industry is facing seasonal weakness due to school and college exams across the country, leading to reduced footfall.&nbsp;<\/p><p><strong>Despite the short-term hiccups, brokerage firm Anand Rathi has a buy call on the company\u2019s shares with a target price of \u20b9 1784.00 apiece. This translates to an upside of 23.29% as compared to its share price of \u20b9 1447.00 apiece.\u00a0<\/strong><\/p><p><strong>Written by Simran Bafna\u00a0<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-2501981076\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Multiplex chains PVR Ltd and Inox Leisure Ltd had announced a merger last year. This happened after the industry was hit hard by closures due to the pandemic that wiped out a lion\u2019s share of the industry\u2019s revenue. Moreover, the rise in the consumption of OTT content added fuel to the fire. OTT platforms in [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":17460,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[4865,31],"tags":[],"class_list":["post-102104","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>PVR Inox touches new 52 week low after amalgamation; Check the latest target\u00a0 - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Multiplex chains PVR Ltd and Inox Leisure Ltd had announced a merger last year. This happened after the industry was hit hard by closures due to the pandemic that wiped out a lion\u2019s share of the industry\u2019s revenue. Moreover, the rise in the consumption of OTT content added fuel to the fire. OTT platforms in India obtained subscribers at an alarming rate.\u00a0BOM: 532689\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/pvr-inox-touches-new-52-week-low-after-amalgamation-check-the-latest-target\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PVR Inox touches new 52 week low after amalgamation; Check the latest target\u00a0\" \/>\n<meta property=\"og:description\" content=\"Multiplex chains PVR Ltd and Inox Leisure Ltd had announced a merger last year. This happened after the industry was hit hard by closures due to the pandemic that wiped out a lion\u2019s share of the industry\u2019s revenue. Moreover, the rise in the consumption of OTT content added fuel to the fire. 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