PVR hits nearly 4-year low as Icra places rating on watch amid lockdown

Shares of PVR hit an over three-year low of Rs 932, down 8 per cent, on the BSE on Tuesday after rating agency Icra placed the company's ratings on watch with developing implications due to the lockdown imposed to stem the coronavirus (Covid-19).

The stock of the multiplex operator was trading at its lowest level since June 24, 2016. In the past two months, it has tanked 55 per cent following the closure of movie theatres across India as state governments ramped up efforts to contain the spread of coronavirus. In comparison, the S&P BSE Sensex has declined 29 per cent