Movie Exhibitors Fall As Rising Covid-19 Cases Trigger Lockdowns

Shares of movie exhibitors – PVR and Inox Leisure fell over 8 per cent each on the BSE after coronavirus cases crossed the 1 lakh mark for the first time, triggering fresh lockdowns in parts of the country. The Maharashtra government on Sunday announced new restrictions, including a night curfew in the state and a “strict lockdown” over the weekends from Friday 8 pm to Monday 7 am amid an unprecedented surge in coronavirus cases.

As part of the lockdown, cinema halls will remain closed in order to curb the spread of Covid infections.

Maharashtra reported nearly 50,000 new cases on Saturday – around 60 per cent of all cases reported across the country on that day. On Friday, the state had reported around 48,000 cases.

The state capital Mumbai reported over 11,000 cases on Sunday – the most in a day since the pandemic began in December 2019. On Saturday, the city had reported over 9,000 new cases.

With 1,03,558 fresh Covid cases, India has seen the biggest-ever daily surge, taking the tally to 1,25,89,067. Prime Minister Narendra Modi on Sunday held a high-level meet to review the situation; central teams have been rushed to three states.

As of 1:17 pm, PVR shares traded 6.36 per cent lower at Rs 1,157 and Inox Leisure was down 5 per cent at Rs 265.



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