Sun. Aug 9th, 2020

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Multiplex stocks in focus; PVR slumps by 6%

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Shares of Multiplex companies were trading under pressure on the stock exchanges. Shares of PVR and Inox leisure slumped after the Ministry of Home Affairs on Wednesday issued fresh guidelines for Unlock 3.0 which are set to come into effect from midnight of August 1, 2020.

Malls and market complexes can operate morning-evening from 9 am to 7 pm. Theatres, restaurants, food courts in markets to remain shut. Food court pantries can continue to work if food preparations are for home delivery purpose through food delivery aggregators.

The Ministry of Home Affairs has been now declared that the Centre has removed night curfew and from August 5 outlets such as Yoga institutes, gymnasiums, malls etc. can open up but no food courts can be operated, no entertainment theatres can be opened and restaurants to remain closed.

The stock prices of multiplex operators have been severely hit since the lockdown was announced across the country nearly four months due to the spread of Covid-19.

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