PVR Inox shares jumped 9.75% in Wednesday’s trading session to hit a fresh 52-week high, with brokerages pointing to improving movie footfalls, stronger box-office performance and a healthier content pipeline.

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CLSA retained its ‘Outperform’ rating on PVR Inox and set a 12-month price target of ₹2,135. The brokerage said its interaction with company management indicated that movies are regaining traction among audiences seeking premium outdoor entertainment experiences.

CLSA noted that India sees around 1,500 movie releases annually across Bollywood, Hollywood and regional cinema. PVR Inox, which operates around 1,800 screens, has been witnessing improving footfalls, according to the brokerage.

The brokerage highlighted strong theatrical performances, including blockbuster releases and successful mid-sized films, as factors helping ease concerns over the longer-term impact of OTT platforms.

PVR Inox plans to add 100 screens in FY27, with the expansion focused on asset-light formats and funded through internal cash flows. The company has also identified around 300 tier-III and tier-IV cities for smart-screen expansion.

CLSA expects PVR Inox’s revenue and EBITDA to grow at roughly 11–13% annually through FY29.

Investec also remained positive, raising its target price to ₹1,821 from ₹1,466 while maintaining a ‘Buy’ rating. It cited stronger performances from mid-sized films, footfall growth ahead of screen additions, fewer direct-to-OTT releases and improvement in average ticket prices and spending per customer.

The brokerage views these trends as signs of improving operating conditions for India’s multiplex sector, although investors will continue to track content performance, consumer spending and screen expansion.