PVR & Inox go flop

Like the airline and hotel stocks, the multiplex operators too facing some harrowing time, with no end in sight. With many states closing down theaters and new film releases getting postponed, the theater operators are staring at a quarter which is going to be bleak.

Currently of the 3000-odd screens around the country, over 50% are already shut and more are expected to follow suit.

Since the outbreak, movie goers as such had come down and now with complete shutdown, many analysts have predicted a 20-25% fall in their Q4 earnings.

This has led to PVR hitting a new low today at Rs.1045.85 and Inox Leisure slipped almost 15% to Rs.270 – its 52-week low is at Rs.249.25 while 20% LC for today is at Rs.253.45.