PVR and Inox face 800 crore loss after Brahmastra release

Multiplex majors like PVR and Inox Leisure took a beating in the stock markets after the release of Ayan Mukerji's Brahmastra.The losses of the multiplex majors were primarily on account of reports of a weak opening for Brahmastra, a multi-starrer movie made at a cost of over ₹400 crore and one which was expected to break Bollywood’s run of flops. 

Shares of PVR lost 5.27 per cent or ₹101.95 to end the day at ₹1,834.15. During intra-day trades, the shares hit a low of ₹1,825.90. Similarly, Inox Leisure saw its shares tumble nearly five per cent or ₹25.70 to close at ₹494.40. More importantly, the lacklustre opening of Brahmastra that boasts of a star cast including Amitabh Bachchan, Ranbir Kapoor, Alia Bhatt, Nagarjuna and a cameo by Shah Rukh Khan cost the investors of the two companies a combined loss of nearly ₹940 crore – the cumulative loss in market capitalisation of the two listed multiplex companies. 

Market experts believe the huge hit taken by the multiplex majors was also because there were high hopes riding on the big-budget movie and it was expected that it would have put an end to the series of flops of Bollywood movies after high-profile productions including Laal Singh Chaddha and Shamshera. Brahmastra Part One- Shiva is the first instalment in a three-part fantasy epic by Ayan Mukerji. It marks Ranbir Kapoor and Alia Bhatt's  first film together, and also features Amitabh Bachchan, Mouni Roy, and Nagarjuna in pivotal roles. As per multiple trade sources, Brahmastra is expected to collect ₹35-40 crore at the box office on its opening day.