PVR, Inox Leisure gain up to 8% as cinemas reopen in Maharashtra

Shares of multiplex operators such as PVR and Inox Leisure gained by up to 8 per cent on the BSE in the intra-day trade on Thursday after the Maharashtra government permitted cinema halls to operate from today.

The state government on Wednesday permitted theatres including single-screen, multiplex and drama halls to re-open from Thursday, adding that they could function outside containment zones only. This will benefit multiplex companies as box office revenue from Maharashtra state constitutes around 30 per cent of total revenue for Hindi films.

Following the development, the stock of PVR rallied 8 per cent to Rs 1,212, while Inox