COVID-19 New Wave: PVR and Inox Leisure’s Stocks Fall Up To 8 Per Cent
Due to the sudden surge in Coronavirus cases, the Maharashtra state government has issued new guidelines. Theater giants such as PVR, Inox Leisure continue to suffer. Stocks prize of these multiplexes have fallen up to 8 per cent
The stock market has been uncertain ever since the pandemic Coronavirus began in India. Several business giants have suffered losses due to the lockdown. Cinema multiplexes such as PVR, Inox Leisure and including few others had recently resumed their full capacity. However, amidst the new pandemic wave, the Maharashtra state government has issued new COVID-19 guidelines. The stock value of these multiplexes has fallen up to 8 per cent.
Maharashtra state government has issued new COVID-19 guidelines, which include orders for the theatrical giants to remain shut until further notice. Multiplexes will again remain shut now after hosting full capacity amidst the Coronavirus outspread. Talking about the individual stocks, Inox Leisure falls with 8 percent to Rs 256.60, PVR is down by 6 percent at Rs 1,160 on the BSE. Shares of discretionary retail players such as Trent, Aditya Birla Fashion and Retail (ABFRL) and Shoppers Stop were down between 2-3 percent after the state issued new restrictions in the rise of cases. Malls and multiplexes to remain shut including all private offices, except those engaged in finance, insurance, banks, telecommunications, and essential services.
For the unversed, the Maharashtra state government has imposed a weekend lockdown (from Friday 8 pm to Monday 8 am) and night curfew ( from 8 pm to 7 am). Only essential services will be allowed.
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