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PVR, Inox Leisure Rally Up To 12% After West Bengal Allows Cinemas To Reopen From Oct 1

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Shares of PVR and Inox Leisure in intra-day trade on September 28, 2020 rallied up to 12% after Chief Minister of West Bengal on Saturday said cinemas and open-air theatres will be allowed to reopen in the state from October 1 with limited number of people.

PVR, Inox Leisure Rally Up To 12% As WB Govt. Allows Cinemas To Reopen
 

West Bengal's CM Tweet said, "return to normalcy, jatras, plays, open air theatres, cinemas and all musical, dance, recital and magic shows shall be allowed to function with 50 participants or less from 1 October, subject to adherence to physical distancing norms, wearing of masks and compliance to precautionary protocols."

The government of West Bengal permitted shooting of films, TV serials as well as web series starting June 1 with not over 35 people on the sets, while complying to all of the safety measures.

Cinema halls have remained shut all across the nation ever since the nationwide lockdown began on March 25.

Individually, PVR while writing the copy was up 10.88 percent or Rs. 119.80 at Rs. 1220.75 per share, while Inox Leisure quoted higher by 6.08 percent or Rs. 15.45 at Rs. 269.75 shares apiece on the BSE.

Sources from the government said the ministry of Home Affair (MHA) is yet to take a call on whether to allow cinema halls to reopen in Unlock 5 which is due in September end. Financially stressed multiplex sector has been regularly seeking approval for the same from the centre.

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