PVR, INOX Shares Fall After Delhi Government Issues Yellow Alert Amid Omicron Scare

Multiplex shares such as PVR and INOX Leisure declined around three per cent each on Wednesday, December 29, after the Delhi government announced restrictions as part of its 'Level 1' or 'Yellow Alert' amid rising Omicron cases in the national capital. As part of the new guidelines, all cinema halls/theatres or multiplexes will be closed in Delhi to contain the spread of the highly infectious coronavirus variant.

At 11:40 am, shares of PVR were trading 3.08 per cent lower at Rs 1,246.45 apiece on the BSE. Shares of PVR opened on the BSE at Rs 1,260.25, inching to an intra day high of Rs 1,285.75 and an intra day low of Rs 1,241, in the trading session so far.

Shares of INOX Leisure were last trading 2.12 per cent lower at Rs 344.10 on the BSE. INOX Leisure opened on the BSE at Rs 343.50, touching an intra day high of Rs 348.85 and an intra day low of Rs 341.60, in the session so far.

On Tuesday, Delhi Chief Minister Arvind Kejriwal declared restrictions in the capital city, announcing immediate closure of cinema halls, multiplexes, banquet halls, auditoriums, gyms, and sports complexes.

Restaurants are allowed to operate with 50 per cent seating capacity from 8 am to 10 pm, while bars are also permitted to open with the same seating capacity between 12 noon to 10 pm. Hotels and lodges are allowed to open with no banquet or conference services.

India reported 9,195 fresh COVID-19 cases in the last 24 hours, 44 per cent higher than yesterday's 6,358 cases, according to the health ministry. Delhi has the highest Omicron count with 238 cases, followed by Maharashtra with 167 cases.