Inox Leisure gains on starting commercial operations of multiplex in Pune

Inox Leisure rose 0.76% to Rs 397.50 after the company said it commenced commercial operations of multiplex cinema on leave & license basis at Elpro City Square Mall in Pune.

The multiplex cinema theatre has five screens and 1,139 seats. With this, INOX is now present in 68 cities with 147 multiplexes, 617 screens and a total seating capacity of 1.43 lakh seats across India. The announcement was made before market hours today, 16 January 2020.

In the past one month, shares of Inox Leisure jumped 7.34%. The scrip is currently trading 1.21% below its 52-week high.

On a consolidated basis, Inox Leisure's net profit surged 193.5% to Rs 35.13 crore on 42.3% rise in net sales to Rs 519.94 crore in Q2 September 2019 over Q2 September 2018.

Inox Leisure is engaged in operating multiplex cinema theatres. The firm is engaged in the business of film exhibition. The company operates through theatrical exhibition segment. The firm is engaged in booking, providing a range of movies, reviewing movie schedules and offering a range of cinema food.

On the technical front, the stock's RSI (relative strength index) stood at 68.389. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

The stock was currently trading above its 50-day moving average (DMA) placed at Rs 370.71, as well as above its 200 DMA placed at Rs 331.06.

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