OTT release of Mohanlal’s ‘Marakkar’ runs into rough weather

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Thiruvananthapuram, Oct 29 | The OTT release of Malayalam superstar Mohanlal’s blockbuster film ‘Marakkar: Lion of the Arabian Sea’, directed by ace filmmaker Priyadarshan, has hit a roadblock as Kerala Minister for Films Saji Cherian insisted that films should be released in theatres.

Cherian said that the OTT aspect was thought of when the movie halls were closed and the government is of the firm view that films should first be released in theatres and he expects the same with ‘Marakkar’.

On Wednesday movie halls in Kerala finally started screening films after a gap of six months and with stringent Covid guidelines allowing only 50 per cent of the total seating capacity, which is a dampener for producers and theatre owners.

‘Marakkar’ producer Antony Perumbavoor first broke the news that the makers are exploring all options including a possible OTT release and they have now practically closed the deal for releasing it on Prime Video.

This decision has irked the theatre owners in the state who are passing through bad times and they fear if a blockbuster film like ‘Marakkar’ goes on OTT, then they will be in trouble.

According to a source, Perumbavoor wanted a minimum guarantee from theatre owners but the amount that Perumbavoor is asking is very high.

This film has cost Perumbavoor a staggering Rs 85 crore and hence he is unwilling to come down and with now Cherian also batting for a theatrical release, it remains to be seen, what’s in store.

At the recent National Film Awards, ‘Marakkar’ was selected as the Best Feature Film for 2019.

The film tells the tale of Kunhali Marakkar, the famous naval chief of the Zamorin of Calicut, often known for organising the first naval defence of the Indian coast.

Mohanlal, known for his flexibility and adaptability to any character, plays the key role of Marakkar.

The star cast includes thespian Madhu, Manju Warrier, actors from south India and Bollywood besides four British actors and one Chinese actor.

A top producer said there are 90 Malayalam films and an additional 50 English, Tamil and Hindi films all waiting for release and with a few films that were released through the OTT platforms during the Covid period fetching reasonable profits, all eyes are on how the government is going to tackle the issue as many families are dependent on movie halls for their livelihood.

Source: IANS

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Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

The benchmark Indices Nifty started on the positive side after continuous sell off in last week and has managed to settle at 15842.30 with 60 point gain or 0.38 percent. However Nifty has failed to regain 16000 levels prior to LIC listing.

While Bank nifty has managed to settle at 33597.60 levels after gaining 1.44 percent. On the sectoral front, Nifty PSU Bank, Nifty Realty and Auto have contributed 2-3 percent gain on closing basis. On the flip side Nifty IT and FMCG ended with losses of 0.75 percent and 0.35 respectively. In Nifty, EICHERMOT, APOLLOHOSP and UPL were the top gainers while ULTRACEMCO, SHREECEM and ASIANPAINT were the prime laggards.

Technically, after forming the bearish candle on the weekly chart, the index has formed a Doji candlestick on the daily chart which shows indecisiveness among the trades. Moreover, the index has also faced a resistance from falling trend lines and showed profit booking from higher levels. However, Fibonacci retrenchment also has support around 15650 levels.

Traders may find buying opportunities for short term as if 15650 levels is protected. In the hourly chart, with support of the middle Bollinger band short term upside movement is expected. Stock specific action would drive the market in coming days too.

On the derivatives front, the highest call OI is at 16000 strike price followed by 16200 strike prices while on the put side, highest OI is at 15500 strike price. INDIA VIX closed at 24.53 with gain of 4.43 percent intraday indicating volatility is going to remain till weekly expiry . On the other hand, Bank nifty has support at 32600 levels while resistance is placed at 34500 levels.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India

 

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