Unlock 5: PVR, Inox Leisure shares jump 12% each as govt allows reopening of cinema halls with 50% occupancy

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Share price of PVR and Inox Leisure jumped over 12 percent each in the morning session after the government allowed cinemas, theatres, and multiplexes to operate with up to 50 percent of their seating capacity.

The Central Government announced the reopening of cinema halls with 50 percent occupancy across the country barring the containment zones from October 15.

The Multiplex Association of India (MAI) on Wednesday "wholeheartedly" welcomed the Union Home Ministry's guidelines, permitting the opening up of cinema halls outside the containment zones from October 15.

In a statement, the MAI said the home ministry's decision was awaited by "millions of movie lovers, employees of the cinema exhibition sector, along with the entire film industry."

"We are committed to ensure a safe, secure and hygienic cinema-going experience for the movie lovers of our country, as always, we would continue to assign top-most priority to the health and well-being of our guests and employees," the association said.

Cinema halls across the country had been shut after a lockdown was imposed from March 25 due to the coronavirus pandemic. Earlier, the ministry said activities permitted from October 15 include cinemas, theatres, and multiplexes that can open with up to 50 percent of their seating capacity, for which the SOP will be issued by the Ministry of Information and Broadcasting.

INOX Leisure was trading at Rs 300.90, up Rs 30.40, or 11.24 percent. It has touched an intraday high of Rs 318.20 and an intraday low of Rs 297.15. It witnessed spurt in volume by more than 8.40 times and was trading with volumes of 269,883 shares, compared to its five day average of 36,206 shares, an increase of 645.42 percent.

Share price pf PVR jumped over 12 percent and was trading at Rs 1,355.00, up Rs 141.95, or 11.70 percent. It has touched an intraday high of Rs 1,395.00 and an intraday low of Rs 1,334.35.