PVR INOX shares rally 6% after addition of new screens in Hyderabad

Shares of PVR INOX jumped 6% in today’s session on BSE to Rs 1,512.60 after the company announced that it has opened 4 new screen multiplexes at Prism Mall in Hyderabad.

With this launch, PVR INOX now operates the largest multiplex network with 1,757 screens across 362 properties in 113 cities, in India and Sri Lanka.

The Cinema features 4K laser projection, advanced Dolby ATMOS immersive surround sound and Next Gen 3D system, according to the company’s press release.

“PVR INOX Limited, the largest and the most premium cinema exhibitor in India has announced the launch of its new 4-screen cinema in Hyderabad with all 4K Laser Projection in all auditoriums. Located at Prism Mall, this state-of-the-art cinema promises an unparalleled movie-going experience with an extensive array of amenities for Gachibowli’s cinephiles. The new cinema will strengthen PVR INOX Limited’s foothold in Hyderabad with 97 screens in 17 properties and in the state of Telangana with 110 screens in 20 properties and continues its expansion in South India with 579 screens in 102 properties,” the release stated.

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With a seating capacity of 950, inclusive of celebrity recliners, the new cinema is equipped with the best-in-class theatrical technology to offer an immersive and enhanced cinematic experience.

“Gachibowli is a destination for comfort, connectivity and convenience and we are thrilled to add a new entertainment landmark to the city of Charminar. PVR INOX Prism is the perfect destination for unwinding after work or enjoying a weekend outing with friends and family. With the launch of our Gachibowli multiplex, we hope to create a space where movie lovers can come together, share experiences, and forge lasting memories through the magic of the silver screen,’ said Ajay Bijli, Managing Director, PVR INOX while commenting on the announcement.

In the last one year, shares of PVR INOX have gained a little over 8%, while in the last 1 month, it has surged 13.5%.

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