Inox Leisure rose 1.85% to Rs 371.85 after the company said it commenced commercial operations of a multiplex cinema theatre on lease basis at Orion Mall in Gorakhpur, Uttar Pradesh from 12 December 2019.
The multiplex has 4 screens and 748 seats. With this, INOX is now present in 68 cities with 145 multiplexes, 602 screens and a total seating capacity of 140,992 seats across India. The announcement was made after market hours yesterday, 12 December 2019.Meanwhile, the Nifty 50 index was up 100.65 points or 0.84% at 12,072.45.
In the past one month, shares of Inox Leisure rose 4.83% to its current market price of Rs 371.85.
On the technical front, the stock's RSI (relative strength index) stood at 61.620. 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 356.15, as well as above its 200 DMA placed at Rs 321.25.
Inox Leisure's consolidated 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.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
