Multiplex operators in demand as WB to allow cinemas to reopen from 1 Oct

Shares of two cinema operators rose by 6% to 9% as cinema halls are set to reopen from 1 October 2020 in West Bengal (WB).

West Bengal Chief Minister Mamata Banerjee on Saturday (26 September 2020) tweeted: "To return to normalcy, Jatras, Plays, OATs, Cinemas & all musical, dance, recital & magic shows shall be allowed to function with 50 participants or less from 1 Oct, subject to adherence to physical distancing norms, wearing of masks & compliance to precautionary protocols."

Cinema halls have remained shut since the nationwide coronavirus lockdown began in late March.

Shares of PVR surged 9.68% to Rs 1207.55 and those of Inox Leisure jumped 6.17% to Rs 270.

 

Meanwhile, the S&P BSE Sensex added 464.49 points or 1.24% to 37,853.15.

As on 31 March 2020, PVR had 4 cinemas and 16 screens while Inox had 15 cinemas and 59 screens in the state of West Bengal.

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