Buy INOX Leisure; target of Rs 547: Edelweiss Securities
Edelweiss Securities is bullish on INOX Leisure has recommended buy rating on the stock with a target price of Rs 547 in its research report dated December 07, 2021.
December 08, 2021 / 03:20 PM IST
Edelweiss Securities' report on INOX Leisure
We recently met Mr. Siddharth Jain, Director (and promoter), and Mr. Alok Tandon, CEO, of INOX Leisure. If there is no serious wave 3 of covid, then INOX Leisure is set for a strong recovery aided by pent-up demand and a large pipeline of major movies. Meanwhile, the balance sheet can support expansion. Some of its initiatives such as refreshing food and beverage offerings with a new menu and partnerships with ITC and delivery & reservation apps along with screening of alternative content would help the brand evolve from just a film exhibitor to a more integral part of consumer lifestyle.
We remain upbeat on INOX’s structural story; retain ‘BUY’ with a TP of INR547. Covid wave 3 remains a key risk and variable to watch out for.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.