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PVR, Inox Leisure shares rally after Maharashtra allows cinema halls to reopen

PVR, Inox Leisure shares rally after Maharashtra allows cinema halls to reopen

PVR, Inox Leisure shares rally after Maharashtra allows cinema halls to reopen
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By CNBCTV18.com Nov 5, 2020 2:04 PM IST (Published)

The shares of PVR and Inox Leisure soared on Thursday after the Maharashtra government finally allowed cinema halls and multiplexes to reopen from today with 50 percent occupancy, outside the containment zones.

The shares of PVR and Inox Leisure soared on Thursday after the Maharashtra government finally allowed cinema halls and multiplexes to reopen from today with 50 percent occupancy, outside the containment zones.

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PVR's share price surged as much as 8.6 percent to Rs 1,194.15 apiece on the NSE while Inox Leisure's share price gained up to 5.7 percent to Rs 274.80.
The order from the state government, however, stated that people would not be allowed to have eatables inside the theatres.
This is apart from all the indoor stadiums, swimming pools and yoga institutes - again, outside containment zones - that will be allowed to function Thursday onwards, said the notification.
All these facilities will have to strictly observe social-distancing and sanitization norms.
The union government had allowed multiplexes, and cinema halls to reopen weeks back following strict standard operating procedures (SOPs). The Ministry of Home Affairs had, however, then left it to states to take the final call on the matter.
After a gap of 8 months, the cinema halls in the state will finally welcome people again given that Mumbai is the key region for the Indian film industry.
 
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