PVR, INOX Leisure shares close on mixed note after falling sharply in morning trade
Mar 16, 2020, 17:48 IST
New Delhi, Mar 16 () Shares of multiplex operators on Monday closed the day on a mixed note after falling sharply by up to 19 per cent in early trade after various states announced closure of cinema halls till March 31 in view of coronavirus scare.
PVR, which tumbled 18.85 per cent to Rs 1,045.85 --its 52-week low on the BSE during the day later erased all the losses and closed 4.75 per cent higher at Rs 1,350.05. Fag-end buying saved the day for PVR, which was trading with losses for most part of the trade.
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Shares of INOX Leisure which plunged 14.77 per cent to hit its day's low of Rs 270 ended at Rs 307.85, down 2.83 per cent.
In view of coronavirus threat, several states have announced to close cinema halls till March 31.
Closure of theatres may hit business of multiplex operators which in turn will dent their profitability. SUM SHWSHW(This story has not been edited by www.businessinsider.in and is auto–generated from a syndicated feed we subscribe to.)