The biggest movie chains in India, PVR and Inox, climbed on Monday after Friday’s decline. During its debut weekend, Brahmastra brought in 100 crore, and the markets reacted favourably. A stated 410 crore rupee budget was used to produce Brahmastra.
The leading theatre chains in India, PVR and Inox, saw a nearly 4% increase in share price apiece, boosting investor wealth by 650 crore and recouping the majority of Friday’s losses.
Brahmastra, starring Ranbir Kapoor and Alia Bhatt, has been eagerly awaited by both the stars’ fans and the rest of the industry. Bollywood has been struggling recently, with a number of films failing to draw audiences. The most notable example is Aamir Khan’s Laal Singh Chaddha, a remake of the classic Forrest Gump.
The market reacted to Brahmastra receiving muted reviews from numerous critics, sending shares of theatre chains PVR and Inox down over 5% on Friday, wiping away over 800 crore in market capitalization.
According to senior vice president of Elara Capital Karan Taurani, Brahmastra’s opening weekend earnings are in the range of $100 crore, which has assisted the shares of PVR and Inox in recovering the majority of their losses from Friday.
Despite the film’s receiving a mixed bag of reviews, the numbers are a pleasant surprise. This is due in part to increased ticket prices (about 30% higher than the usual due to 3D and Imax format sales) and the fact that fans particularly liked the special effects in this picture (one of a kind), according to Taurani, who spoke to Business Insider India.
However, Taurani isn’t backing down from his position. “According on recent collecting figures and advances over the weekend, the movie may now breach towards the top end of our estimates — 180-200 crore in its lifetime,” he continued.
Brahmastra has increased its net box office receipts since its Friday debut, claims trade expert Taran Adarsh. His statistics, though, indicate that Sunday’s increase has slowed down. According to his estimations, the weekend’s net take was 108 crore rupees.
As Monday statistics following the opening weekend are crucial in deciding the entire trajectory of any movie, it remains to be seen how Brahmastra performs from this point on.