Multiplex Sector - Multiplexes to open from Oct 15, 2020 - Angel Broking

Mr. Keshav Lahoti - Associate Equity Analyst, Angel Broking Ltd

"Multiplex will open from 15th October in most of the states of India after being shut down for 7 long months. As key regions of movie going audience Mumbai and Delhi is expected to open in November so in the initial few weeks, exhibitors will screen old hit movies. Recently, PVR management said that all the old films will be screened at hugely discounted rates. Although, all new content will be screened at pre covid rates. PVR CEO hopes to be back at pre-Covid levels by the end of the year. We anticipate gradually recovery for the sector. There will be a lot of challenges for the multiplex business for the next couple of weeks. We are bullish on the multiplex stock considering that long term prospects of the business are still promising and stock prices have corrected ~40% due to Covid."

Shares of INOX LEISURE LTD. was last trading in BSE at Rs.284.2 as compared to the previous close of Rs. 281.4. The total number of shares traded during the day was 21450 in over 878 trades.

The stock hit an intraday high of Rs. 286.2 and intraday low of 280.95. The net turnover during the day was Rs. 6081066.

Shares of PVR LTD. was last trading in BSE at Rs.1269.7 as compared to the previous close of Rs. 1254.9. The total number of shares traded during the day was 35714 in over 2804 trades.

The stock hit an intraday high of Rs. 1276.95 and intraday low of 1256. The net turnover during the day was Rs. 45238661.

Source : Equity Bulls

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