PVR share price set to rise: 5 reasons why experts want you to buy this cineplex stock
As per a Zee Business TV report, nearly 65 per cent of the brokerage companies have shown bullishness about the PVR cineplex counter.
PVR share price: On account of 10 per cent expected growth in FY20, penetration in 62 cities of India with 745 screens and announcement to add 80 more screens in Tier-2 and Tier-3 cities, GST being lowered from 28 per cent to 18 per cent and 32 big banner Hindi films release in the cards, stock market experts are highly bullish about the PVR share price. As per a Zee Business TV report, nearly 65 per cent of the brokerage companies have shown bullishness about the cineplex counter.
See Zee Business video below:
— Zee Business (@ZeeBusiness) June 4, 2019
Here are the top 5 factors that market experts say would work as fodder for the bull run in PVR counter:
1] PVR registered 9 pct growth in Box Office collection from Hindi movies, thanks to resounding success of Simba and Gulli Boy. Around 32 more big banner movie are getting ready for release on PVR screens;
2] PVR has a presence in 62 Indian cities with 745 screens. It is soon going to add 80 more screens that would help the cineplex chain to increase its Box office collection in coming days;
3] PVR is not only working on organic expansion, but has plans to expand through the inorganic way also. Its recent take over of SPI Cinema and DT Cinema is a glaring example of it. This inorganic expansion also indicates about the cineplex plan to penetrate Tier-2 and Tier-3 cities of India;
4] The PVR counter has registered 194 pct growth in last 5 years; and
5] GST has been lowered from 28 per cent to 18 per cent, that may increase footfall into the multiplex leading to more box office collection.
So, the above five reasons can be a pinpointer for a stock market investor if he or she is planning to invest in equities.