Multiplex shares fall to 4 pc as Maharashtra mandates masks mandatory

Shares of multiplex operators such as PVR and Inox Leisure fell to 4 per cent after the Maharashtra government made masks mandatory in public places amid a rise in Covid 19 cases.

PVR stock fell 3.75 per cent to 1,746 on the intraday. It was down 3.75 per cent on the BSE. The stock has fallen for the last two sessions. The share is higher than 20 day, 100 day and 200 day moving averages but lower than 5 day and 50 day moving averages.

The stock has gained 28.8 per cent in a year and risen 37.7 percent in 2022. The firm has changed hands of 0.20 lakh shares, which is a turnover of Rs 3.50 crore on the BSE. The firm's market cap fell to Rs 10,922 crore on the BSE.

The share of another multiplex player Inox Leisure hit a new intraday low of Rs 478.35, down 4.22 per cent on the BSE. Inox Leisure stock trades higher than 20 day, 100 day and 200 day moving averages, but lower than 5 day and 50 day moving averages.

The stock has gained 51.07 per cent in a year and increased 36 per cent in 2022. The firm's shares changed hands to a turnover of Rs 53.70 lakh on the BSE, which was a total of 0.11 lakh.

The firm's market cap fell to Rs 5,888 crore on the BSE.

In a letter to the district authorities, Dr Pradeep Vyas, Maharashtra's other chief secretary, gave out several orders including one for mandating the wearing of masks in public places.

He said on Sunday, 1,494 Covid 19 cases in closed public spaces like trains, buses, cinemas, auditoriums, hospitals, colleges, and schools are a must.

As many as 614 patients recovered and one more patient died, taking the total number of recoveries and deaths to 77,38, 564 and 1,47, 866. The state has reported a spike in Covid 19 cases for the past week. The daily tally has remained over the 1,000 mark for the last five days.