Market Movers: Good show by PVR brings entertainment stocks into action
GNFC, Inox Leisure and PVR rally in today’s volatile session
The only thing stable in markets is volatility. Amid volatile sentiments, weakness casts its spell on metal and energy stocks in today’s session.
At the closing bell on May 10, the Sensex gave up 106 points or 0.2 per cent to close at 54,364.85, while the Nifty index lost 62 points or 0.4 per cent to settle at 16,240.05.
GNFC, Inox Leisure and PVR witnessed positive action in today’s session.
Gujarat Narmada Valley Fertilizer and Chemical Ltd (GNFC) zoomed 8.28 per cent on the back of strong financial results announced yesterday, post market hours. PAT in Q4 more than doubled at Rs 643.26 from Rs 308.91 on YoY basis, a growth of 108.24 per cent. Net revenue for the quarter ended March 31, 2022, stood at Rs 2771.71 with a growth of 60 per cent on YoY basis. The shares hit intraday high and low at Rs 846.30 and Rs 777.65, respectively and closed at Rs 818.35.
Inox Leisure showed a strong rally of 4.36 per cent in today’s session and closed at Rs 473.60. The share hit intraday high and low at Rs 475 and Rs 445, respectively. The multiplex chain operator is in the process of merger with PVR Ltd which is expected to give additional firepower to the combined entity. Last week Inox also reported its financial results with a narrowing of losses from Rs 93.69 crore to Rs 28.17 crore.
PVR Ltd witnessed a gain of 4 per cent in today’s session and closed at Rs 1773.10. The stock logged its intraday high and low in today’s session at Rs 1785.20 and Rs 1715, respectively. India’s largest and most premium film exhibition company reported its financial numbers for the quarter and year ended March 31, 2022. Net revenue during Q4FY22 jumped 196 per cent to Rs 537.14 crore compared to Rs 181.46 crore. Net loss also narrowed significantly from Rs 289.21 crore to Rs 105.49 crore while the company reported the highest ever quarterly ATP of Rs 242 and SPH of Rs 122 and yearly ATP of Rs 235 and SHP of Rs 124.