Stocks

PVR, Inox stocks hit record fresh highs as Maharashtra announces reopening of cinema halls

Our Bureau Mumbai | Updated on September 27, 2021

Theatres and auditoriums in Maharashtra will open after October 22, Chief Minister Uddhav Thackeray’s office announced on Saturday

The shares of leading multiplex chains PVR Cinemas and Inox Leisure hit their 52-week highs on Monday as the Maharashtra government announced the reopening of theatres in the State from October 22.

At 9:51 am, PVR was trading at ₹1,602.05 on the BSE, up ₹90.95 or 6.02 per cent. It.had opened at ₹1,662.20 as against the previous close of ₹1,511.10 and surged to a 52-week high of ₹1,662.20 during the morning trade. The stock hit an intraday low of ₹1,590.00.

On the NSE, it was trading at ₹1,603.00, up ₹92.10 or 6.1 per cent.

Shares of Inox were trading at ₹384 on the BSE, up ₹34.20 or 9.78 per cent. It recorded a fresh year high of ₹412.20. The stock had opened at ₹377 as against the previous close of ₹349.80. It recorded an intraday low of ₹377.00.

On the NSE, it was trading at ₹382.85, up ₹33.35 or 9.54 per cent.

Opening date

Theatres and auditoriums in Maharashtra will open after October 22, Chief Minister Uddhav Thackeray’s office announced on Saturday.

“Theatres and auditoriums in Maharashtra will open after October 22, 2021, while observing all Covid safety protocols. SOP is in the works and will be declared soon,” read a tweet from the official account of the CM’s office.

The State is an important territory for the film exhibition industry and the cinema industry overall.

Kamal Gianchandani, President, Multiplex Association of India that met the Maharashtra CM on Saturday, said that the association is expecting Hindi film producers to start announcing their release dates this week, as per previous reports.

“We are expecting a busy third quarter in terms of movie releases,” he added.

Published on September 27, 2021

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