Multiplex Stocks Edge Up As Industry Body Submits Revised Safety Guidelines
Stocks of leading multiplex chains moved up in trade on Thursday, a day after Multiplex Association of India submitted an enhanced safety and precautions plan for reopening cinema halls to the Information & Broadcasting Ministry and various state governments. In fact, multiplex stocks have been edging higher for three straight sessions, since the fourth leg of coronavirus-induced nationwide lockdown was implemented, with considerable relaxations. However, the government is yet to allow the opening up of multiplexes or shopping malls.
In afternoon trading, PVR Ltd. stock was up more than 2 per cent, at Rs 875.35 apiece. The stock has gone up 18.33 per cent, since the closing on May 18, the last day of the third phase of lockdown.
Another major player in the industry, Inox Leisure Ltd's stock was priced at Rs 211.75 apiece, up 7.71 per cent. The stock has gone up by 27.49 per cent from May 18 closing of Rs 165.50.
Meanwhile, on Wednesday, the Multiplex Association of India submitted a revised plan on safety measures to the government. The revamped plan includes measures related to sanitisation of multiplex premises, social distancing norms within the auditorium, guidelines for the employees and a review plan after two months.
Industry experts tweeted about the plan on Wednesday, referring to the development as an important one.
#BreakingNews... Multiplex Association of India submits enhanced safety and precautions plan for cinemas to Information & Broadcasting Ministry and various state governments... VERY IMPORTANT DEVELOPMENT... pic.twitter.com/Ssof6kZcIk
May 20, 2020The fourth phase of lockdown ends on May 31, following which further easing in the norms are expected.
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
