PVR, Inox Leisure shares rise after Maharashtra allows reopening of multiplexes

Shares of PVR and Inox Leisure gained up to 8% in Thursday's early session after the Maharashtra government allowed multiplexes and cinemas to open with 50% seating capacity from November 5 outside containment Zones.

PVR stock opened with a gain of 4.41% at Rs 1164 against the earlier closing of Rs 1,114 apiece on BSE. The stock also touched a high of Rs 1,212, up 8.76% intraday. PVR stock has gained 8.66% in the last 2 days. The share trades higher than 5 day, 20 day and 100 day moving averages but lower than 50 day and 200 day moving averages.

Similarly, Inox Leisure share opened with a gain of 3.5% today and later touched an intraday high of Rs 279.4, rising 5.69% against the last closing price of Rs 264.35. The stock has gained 8.23% in last four days. It trades higher than 5 day, 20 day and 100 day moving averages but lower than 50 day and 200 day moving averages.

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While PVR stock has risen 12.94% in one week, the stock price of Inox Leisure has given 7.51% returns during the same period.

No eatables will be allowed inside the Cinema halls/theatres/ multiplexes/ drama theatres. The SOP for the same will be issued by the Cultural Affairs Department and local authorities. The Cultural Affairs Department will take into consideration the SOP issued by the Ministry of Information and Broadcasting.