Cinema hall stocks: PVR, Inox Leisure jump 13% as govt allows cinemas to reopen from Oct 15

Beulah R. Hayes
NEW DELHI: Shares of PVR and Inox Leisure advanced over 12 per cent in Thursday’s morning trade after the government on Wednesday allowed multiplexes and cinemas to open with 50 per cent capacity from October 15.

PVR traded 12.65 per cent higher at Rs 1,366 at around 9.33 am (IST), while Inox Leisure was up 12.48 per cent at Rs 304. On the other hand, the benchmark BSE Sensex traded 1.19 per cent higher at 38,520 at around the same time.

However, cinema halls, theatres and multiplexes will have to strictly adhere to standard operating procedures (SOP) issued by the Ministry of Information & Broadcasting.

Meanwhile, Business to Business exhibitions will also be permitted to open from October 15, for which standard operating procedures (SOP) will be issued by the Department of Commerce.

The government also permitted entertainment parks to open from October 15. They too will have to follow SOP which will be issued by the Ministry of Health & Family Welfare.

Cheering the development, shares of amusement park operator Wonderla Holidays were trading up 9.27 per cent at Rs 172.70.

Earlier, Inox Leisure, PVR and Wonderla Holidays have gained 3.15 per cent, 4.35 per cent and 13.26 per cent, respectively, on the BSE since the beginning of the ongoing financial year till September 30. On the other hand, the 30-share Sensex has gained 29 per cent during the same period.

The Ministry of Home Affairs (MHA) has asserted that these activities will only be allowed in areas outside Containment Zones.

Meanwhile, the lockdown will continue to be implemented strictly in Containment Zones till October 31.

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