Brahmastra negative reviews affect the stock price of PVR and INOX; both slump by approx. 5%

The much talked about and keenly anticipated release Brahmastra hit screens yesterday. Directed by Ayan Mukherji, the film features Ranbir Kapoor and Alia Bhatt in lead roles, along with Amitabh Bachchan, Nagarjuna, and Mouni Roy. Making the Karan Johar-produced Brahmastra extra special is the fact that the film features cameos by none other than Shah Rukh Khan and Deepika Padukone. In the run-up to its release, Brahmastra was making headlines each day, and with the growing anticipation for the film, theatres benefited considerably. In fact, during the week before release, both PVR Cinemas and INOX Leisure witnessed a growth of 2-4% in their share prices. However, now we hear that post the release of Brahmastra both stocks have seen a drop.

As per reports, both PVR Cinemas and INOX Leisure have seen a 5% drop in share prices ending at Rs 1,833 and Rs 494 respectively on the NSE (National Stock Exchange). Currently, this drop in prices is being attributed to the fact that Brahmastra which was heralded as the biggest release this year, received more negative reviews than positive. Given the less than appreciative reactions the film has received, its overall business prospects have also taken a hit. This sudden revaluation of the film’s box office potential is being attributed as the root cause of the lowered prices PVR and INOX have seen. If that wasn’t all, the stocks also dragged Nifty Media 0.13 percent lower.

As for the film, Brahmastra which has been in the making for a while now, released yesterday across 8,913 screens, India - 5019; Overseas - 3894 still counting. Expected to be one of the biggest money spinners this year, the film witnessed a good spate of advance bookings, however, the lackluster reviews have taken a toll on the film’s overall business prospects.