Stocks of the day: Bharti Airtel, Adani Ports

0
440

PVR

PVR Pictures, the largest theatre chain in India, said they are disappointed with producers directly releasing their movies on streaming services .
the largest theatre chain in India

PVR bounced back from yesterday’s steep losses to close with 7 per cent gain.Yesterday stock had corrected more than 10 per cent after the government had extended lockdown.

Recently , the company announced its unhappiness over the release of movies on OTT platforms like Amazon video. Companies revenues are expected to take a hit from it. In spite of today’s big rally , stock is expected to underperform the broader market till lockdown is place.All theatres are closed since India has announced lockdown since March.

Today’s gain also saw spurt in volumes. But stock is still trading below its 26 days EMA and is oversold territory on RSI.

Start a free investments in direct mutual funds with Zerodha – India’s biggest stock broker

Leave a Reply