PVR Inox Shares Surge 3% as Kotak Reiterates 'Buy' Rating, Citing Excessive Correction

• PVR Inox shares rose up to 3% on January 2, closing 1.5% higher at Rs 1032.25.
• Kotak Institutional Equities reiterated a 'Buy' rating with a target price of Rs 1380, a 34% upside.
• Kotak expects strong occupancy (over 27%) and mid-teen EBITDA margins for Q4 2025, with a robust Q1 2026 movie lineup.
• The brokerage believes the recent 22% stock decline over one year was excessive.
• Promoter Ajay Bijli pledged 4 lakh shares for personal borrowing, bringing his total pledged shares to 3% of company capital.

Why It Matters: PVR Inox sees a stock surge and 'Buy' rating from Kotak, signaling potential recovery despite recent dips.