Inox Leisure gains after entering into agreement with IMAX Corporation

Inox Leisure gained 1.6% to Rs 199.75 at 13:25 IST on BSE after the company announced an agreement with IMAX Corporation for installing five IMAX theatre systems.

The announcement was made during market hours today, 6 April 2016.

Meanwhile, the S&P BSE Sensex was up 28.02 points or 0.11% at 24,910.32.

On BSE, so far 2,567 shares were traded in the counter as against average daily volume of 11,904 shares in the past one quarter. The stock hit a high of Rs 201.50 and a low of Rs 195 so far during the day. The stock had hit a record high of Rs 276.30 on 23 October 2015. The stock had hit a 52-week low of Rs 145 on 14 May 2015. The stock had underperformed the market over the past one month till 5 April 2016, falling 6.38% compared with 0.96% gains in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 16.91% as against Sensex's 2.72% fall.

The mid-cap company has equity capital of Rs 96.46 crore. Face value per share is Rs 10.

Inox Leisure said that these systems will be installed at existing Inox multiplexes in the cities of Mumbai, Bengaluru, Delhi and Kolkata, starting with Inox at R-City, Ghatkopar, Mumbai. With this deal, Inox takes the cinema viewing experience of its customers to the next level.

IMAX is headquartered in New York, Toronto and Los Angeles, with offices in London, Tokyo, Shanghai and Beijing. and has cinema exhibition chains. As of 31 December 2015, there were 1,061 IMAX theatres (943 commercial multiplexes, 19 commercial destinations and 99 institutions) in 67 countries.

On consolidated basis, Inox Leisure's net profit rose 9.1% to Rs 15.60 crore on 13.8% growth in net sales to Rs 331.69 crore in Q3 December 2015 over Q3 December 2014.

Inox Leisure is the diversification venture of the INOX group into entertainment. The company is carrying out the business of setting up, operating and managing a national chain of world class multiplexes under the brand name 'Inox'.

Powered by Capital Market - Live News