Union Minister Ravi Shankar Prasad came in for sharp criticism when he pointed to the box-office collections of some films to say the economy was doing fine. But there is one stock, with strong links to films, which has indeed beaten the odds.
Consumer spending declined for the first time in 2019 in four decades but shares of specialty retail player INOX Leisure have jumped more than 47 percent on BSE, as of December 9 close. The equity benchmark Sensex has gained more than 12 percent in the same period.
Stocks outperforming the market benchmark is not an unusual phenomenon, but what makes INOX Leisure's rise special is that it brushed aside the slump in consumer spending.
Brokerages are bullish on INOX’s aggressive expansion strategy, focus on premiumisation and ramp-up of margin-accretive segments.