PVR, Inox Leisure shares, along with other multiplex operator stocks, tumbled up to 8 per cent on Monday right after the Maharashtra government imposed a total weekend lockdown and shut cinema halls amid COVID-19 situations surge. The Maharashtra government on Sunday announced a weekend lockdown and evening curfew through weekdays. Moreover, it has announced the closure of private offices, theatres and salons to curb the quick-spreading illness. “With Covid cases crossing the 1 lakh mark, a strict weekend lockdown coupled with a postponement of big movie releases has led to a sharp fall in both PVR and Inox Leisure,” AR Ramachandran, Co-founder & Trainer, Tips2Trades, told TheSpuzz Online.
Ramachandran added that, technically, Rs 1,070 will act as powerful assistance for PVR and Rs 228-230 will be a excellent base for Inox Leisure in the coming sessions. Inox Leisure share price tag plunged 8 per cent to Rs 256.60 apiece, though PVR fell more than 7 per cent to Rs 1,144.60 apiece. Among other multiplex operators stocks, Shemaroo, Cinevista, Mukta Arts, Saregama India, Eros International Media, Shemaroo Entertainment had been down in the variety of .2-5 per cent.
In comparison, S&P BSE Sensex tumbled 2.55 per cent or 1,274 points to 48,767 in late morning offers. The Chief Minister’s Office (CMO), in a statement, stated that except for the critical services shops, healthcare shops and grocery shops, all other shops, markets and purchasing malls will be closed till April 30, 2021. All these restrictions will be referred to as ‘Break the Chain’ alternatively of ‘Mission Begin Again’, a campaign that was launched by the state government for the phase-smart reopening of lockdown final year.
Also, entertainment areas like cinema halls, theatres, multiplexes, clubs, video parlours, swimming pools, sports complexes, water parks, auditoriums will stay shut, the recommendations stated.
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