Buy Inox Leisure: target of Rs 320: Sharekhan
Sharekhan is bullish on Inox Leisure recommended buy rating on the stock with a target price of Rs 320 in its research report dated November 06, 2020.
November 11, 2020 / 11:28 AM IST
Sharekhan's research repor on Inox Leisure
Q2 a wash-out quarter as expected. Still, company kept purse-strings tight by reducing workforce and rationalisation. Maharashtra government has allowed re-opening of cinemas. With this, Inox can now resume operations (at 50% capacity utilisation) for 528 screens (accounted for 84% of its screens). We believe that COVID-19 is a transient crisis and we do not see any material change in consumer behaviour due to COVID-19 after normalcy; hence we model strong recovery in FY2022E.
We upgrade Inox Leisure Limited (Inox) to Buy from Hold with a revised price target (PT) of Rs. 320 as approvals to resume operations offer better visibility.
For all recommendations report, click here
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