Multiplex operators rally as cinemas to reopen in Maharashtra from 5 Nov

Shares of the multiplex operators advanced after Maharashtra Government allowed the cinema halls, theatres, multiplexes to reopen with 50% seating capacity from Thursday, 5 November 2020.

PVR gained 3.86% to Rs 1157.80 and Inox Leisure was up 2.35% at Rs 270.55.

The State Government in an order said multiplexes will be opened only in areas outside containment zone. The development comes after the Central Government issued order on 1 October 2020 permitting to open with upto 50% seating capacity, for which, standard operating procedure (SOP) will be issued by Ministry of Information & Broadcasting.

Multplex establishments were shut since March due to lockdown imposed to contain the spread of Covid-19.

Total COVID-19 confirmed cases in Maharashtra stood at 16,98,198 with 44,548 deaths and 15,40,005 recoveries.

India reported 527,962 active cases of COVID-19 infection and 124,315 deaths while 7,711,809 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.

Total COVID-19 confirmed cases worldwide stood at 48,008,175 with 1,224,144 deaths.

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