Dhurandhar Impact: How PVR Inox, Saregama And Cineline Stocks Moved Post Release

The release of Aditya Dhar’s spy thriller Dhurandhar has had a visible impact on several listed media and cinema-related stocks, even as share price reactions have remained mixed. The film has been one of the biggest talking points at the box office, driving strong collections and renewed interest across the cinema value chain, from exhibitors to content owners and technology providers.

Since the movie’s release, shares of Cineline India the operator of MovieMax, Saregama and UFO Moviez have traded in the green, reflecting optimism around footfall recovery and content momentum. Saregama has gained about 3.01%, while UFO Moviez is up 7.27%. Cineline India has also rise around 6% since the release. In contrast, PVR Inox has underperformed, slipping 1.48% over the same period.

PVR Inox’s stock movement has been particularly eventful. While the shares are down 1.48% since the release of Dhurandhar, they surged nearly 8% on Monday before giving up some of those gains on Tuesday.

The sharp move on Monday was driven by optimism around the blockbuster opening of Dhurandhar and anticipation ahead of the release of Avatar: Fire and Ash. Profit booking set in the following session, dragging the stock lower despite positive near-term fundamentals.

At the box office, Dhurandhar has delivered a stellar performance. The Aditya Dhar-directed film recorded the highest-ever second Saturday collection in Hindi cinema, raking in Rs 53 crore on Dec. 13. Total collections have already crossed the Rs 350 crore mark, firmly establishing the film as a blockbuster. Adding to the excitement, the makers have confirmed a sequel, slated for release in March 2026, extending the franchise’s long-term value.

For cinema operators such as PVR Inox, the momentum does not stop with a single Hindi release. The upcoming launch of Avatar: Fire and Ash on Dec. 19 is expected to further lift footfalls and ticket sales in the coming weeks. Beyond the immediate slate, the company also benefits from a strong pipeline of Hollywood and Bollywood releases scheduled over the next year, which should help sustain occupancy levels and drive revenue growth.

Despite the broader positivity, some profit booking was visible across cinema-linked stocks on Tuesday. Cineline India fell the most, down nearly 5%, while PVR Inox declined 2.24% and UFO Moviez slipped 1.37%. Saregama initially dropped 1.04% but later recovered to trade up as much as 1.62%, highlighting stock-specific resilience amid overall volatility.

Overall, the so-called ‘Dhurandhar impact’ has reinforced the importance of strong content in driving sentiment across the media and entertainment space

While box office success has lifted expectations for exhibitors and allied players, stock performance has remained uneven, shaped by profit booking, broader market conditions and company-specific factors. With a packed release calendar ahead, investor focus is likely to remain firmly on content traction and its translation into sustained earnings growth.