Shares of movie exhibitors like PVR and Inox Leisure fell for second session in a row on Tuesday on fears that government of Maharashtra may again impose lockdowns in the state after resurgence in infections spurred fears of a second wave of the disease. Maharashtra Chief Minister Uddhav Thackeray on Sunday called the coronavirus situation in the state “serious” and warned that lockdown would have to be reimposed if daily Covid cases continue to rise in the next two weeks.
In the last two trading sessions, PVR has declined 8 per cent and Inox Leisure has fallen 9 per cent on fears of imposition of lockdown which would mean closure of cinema halls and other places of social gatherings, analysts said.
After a lull of three months, Maharashtra, which has the highest number of coronavirus cases in the country, reported over 6,000 daily cases last Friday. On Sunday, the state recorded 6,971 cases and 35 deaths. Mumbai, the state capital, logged 921 infections.
On Monday, Amravati district in Maharashtra was placed under lockdown for a week amid rising cases of COVID-19 in the state.
The announcement for the lockdown in Amravati came hours after the district administration in Pune shut down schools and coaching centres till February 28. Deputy Chief Minister Ajit Pawar met with senior officials to assess the COVID-19 situation in the district before taking the decision.
As of 10:06 am, PVR shares traded 0.2 per cent lower at Rs 1,375 and Inox Leisure was down 1 per cent at Rs 303.