Share prices of PVR Limited and Inox Leisure dropped on Friday, March 19, as stricter norms for visiting cinema halls have been imposed due to the sudden rise in active coronavirus cases. On Friday, shares of PVR Limited dropped more than five per cent on the BSE, while Inox Leisure fell four per cent. Shares of PVR opened on the BSE at Rs 1,360, touching an intra day high of Rs 1,386.85 and an intra day low of Rs 1,305.05, so far. Inox Leisure opened on the BSE at Rs 325, touching an intra day high of Rs 328.35 and an intra day low of Rs 312.85.
Amid a surge in new COVID-19 cases in the state of Maharashtra, the state government imposed stricter restrictions for visiting cinema halls, hotels, and other such public places. In order to curb the rise in COVID-19 cases, the Brihanmumbai Municipal Corporation (BMC) has made a COVID-19 negative report as mandatory for people to enter shopping malls. This will come into effect starting March 22 for all citizens in Mumbai.
In case the visitors do not have a negative COVID-19 test report, they will have to get an antigen test done at the shopping center itself. The BMC said in a statement that for this purpose, all shopping malls across Mumbai will soon have a Rapid Antigen Test facility.
On the NSE, shares of PVR opened at Rs 1,374. At 1:09 pm, PVR Limited traded 5.60 per cent lower at Rs 1,319.95 on the NSE, while Inox Leisure traded 4.07 per cent lower at Rs 316.75. Meanwhile, on the BSE, PVR last traded 4.85 per cent lower at Rs 1,328.95, while Inox Leisure traded 4.08 per cent lower at Rs 316.30.