Stocks

PVR, Inox down as Maharashtra shuts cinema halls on Covid spurt

Our Bureau Mumbai | Updated on April 05, 2021

Government to implement harsh restrictions amid second wave of the pandemic

The stocks of multiplex operators such as Inox Leisure and PVR were down by 7 per cent and 6 per cent respectively after the Maharashtra Government announced that cinema theatres will remain shut in the State at least till April 30 amid the second wave of the Covid-19 pandemic.

At 11 am, PVR Ltd was trading at ₹1,151.20 on the BSE, down ₹85.60 or 6.92 per cent. It hit an intraday high of ₹1,195.50 and an intraday low of ₹1,144.60. It had opened at ₹1,179 as against the previous close of ₹1,236.80.

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On the NSE, it was trading at ₹1,151, down ₹87.05 or 7.03 per cent.

Inox Leisure Ltd was quoting ₹263.45 on the BSE, down ₹15.60 or 5.59 per cent. It hit an intraday high of ₹270.65. It had opened at an intraday low of ₹256.60 as against the previous close of ₹279.05.

On the NSE, it was trading at ₹263.15, down ₹15.65 or 5.61 per cent.

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Night curfew too

The Maharashtra Government on Sunday decided to implement harsh restrictions, including night curfew, in a bid to curb the second wave of Covid-19.

The restrictions will be implemented from April 5 (from 8 pm) to April 30, a press statement issued by the Chief Minister’s office said.

As part of the new restrictions, shops and malls will remain shut till April 30, except for groceries, medicines, vegetables and other essentials. Cinemas and restaurants, among other crowded places, will also remain closed.

The Multiplex Association of India in a letter addressed to the Chief Minister of Maharashtra’s office last week had said that theatres being shut due to a second lockdown will possibly lead to “an extremely adverse and hostile” situation for cinemas across the nation.

Published on April 05, 2021

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