UFO Moviez opens 5% higher on alliance with TSR Films for advertising rights

The share touched a 52-week high of Rs 148.05 and a 52-week low of Rs 57.30 on 10 January, 2024 and 28 March, 2023, respectively.

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UFO Moviez share price added 5 percent in the opening trade on January 24 after the company entered into a partnership with TSR Films for advertising rights.

At 09:24 hrs UFO Moviez India was quoting at Rs 137.50, up Rs 7.45, or 5.73 percent, on the BSE.

This strategic collaboration grants UFO Moviez exclusive advertising screen rights across TSR’s extensive network of over 403 screens.

With this partnership, UFO Moviez’s cinema advertising network has expanded to 3,808 screens from 3,303 screens as of September 30, 2023.

It will also help in substantially increasing UFO Moviez’s advertising screen count to 326 screens and 286 screens in high-potential Tamil Nadu and Kerala markets, respectively.

“This strategic partnership with TSR Films not only grants us access to 403 new screens, solidifying our presence in vibrant South Indian markets but also expands our network to 3,808 screens nationwide. We’re confident this collaboration will empower us to provide advertisers with superior offerings and deepen our penetration into the realm of in-cinema advertising,” said Sanjay Gaikwad, Founder and Managing Director, of UFO Moviez.

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The share touched a 52-week high of Rs 148.05 and a 52-week low of Rs 57.30 on 10 January 2024 and 28 March 2023, respectively.

Currently, the stock is trading 7.13 percent below its 52-week high and 139.97 percent above its 52-week low.

The share price jumped 101 percent in the last 9 months.

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