PVR, Inox Leisure stocks fall after govt says cinema halls to remain closed in Unlock 3

Share price of PVR and Inox Leisure fell in early trade today after government announced guidelines for Unlock 3.0. Schools, cinema halls and metro trains will remain closed till August 31, government said. PVR share price declined 10% to Rs 1,023 against previous close of Rs 1,137 on BSE.

Stock of PVR opened with a loss of 10% today.

The midcap share trades higher than 20 day and 50 day moving averages but lower than 5 day, 100 day and 200 day moving averages.  

Total 1.25 lakh shares changed hands amounting to turnover of Rs 13.53 crore.

PVR share has lost 42.98% since the beginning of the year and fallen 31.61% during last one year.

In a week, the share has lost 2.33%.  

The share hit 52-week high of Rs 2082 on February 20, 2020 and 52 week low of Rs 706.55  on May 19, 2020.

Similarly, share of another multiplex operator Inox Leisure opened 13.63% lower at Rs 220.55, against previous close of Rs 255.35 on BSE.

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The share trades higher than 20 day and 50 day moving averages but lower than 5 day, 100 day and 200 day moving averages.

During one year, the share has fallen 20.73% and fallen 37.65% since the beginning of this year.

Earlier, ministry of Information and Broadcasting (IB) proposed the reopening of cinema halls to the Ministry of Home Affairs. Cinema halls have remained closed for more than four months due to coronavirus-related lockdown which threatens to derail India's economic growth. Multiplex Association of India has drawn a set of Standard operating procedures (SOPs) in collaboration with its members.

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