PVR and Inox Leisure fall for second consecutive session on lockdown fears

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PVR shares traded 0.2 percent lower at Rs 1,375.

Shares of film operators like PVR and Inox Leisure fell for the second session in a row on Tuesday over fears the Maharashtra government would re-impose lockdowns in the state after the resurgence of infections raised fears of a second wave of illness. Maharashtra Chief Minister Uddhav Thackeray on Sunday called the coronavirus situation in the state “serious” and warned the lockdown would have to be re-imposed if daily Covid cases continue to rise over the next two weeks .

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In the last two trading sessions, PVR has fallen 8% and Inox Leisure has fallen 9% amid fears of a foreclosure imposition, which would result in movie theaters and other venues being closed. social gathering, analysts said.

After a three-month lull, Maharashtra, which has the country’s highest number of coronavirus cases, reported more than 6,000 daily cases as of Friday. As of Sunday, the state recorded 6,971 cases and 35 deaths. Mumbai, the state capital, recorded 921 infections.

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On Monday, the Amravati district in Maharashtra was placed under lockdown for a week amid rising COVID-19 cases in the state.

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The announcement of the lockdown in Amravati came hours after the Pune district administration closed schools and training centers until February 28. Deputy Chief Minister Ajit Pawar met with senior officials to assess the COVID-19 situation in the district before making the decision.

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At 10:06 am PVR shares were trading 0.2% down to Rs 1,375 and Inox Leisure was down 1% to Rs 303.

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