NEW DELHI, Feb. 26 -- Shares of multiplex companies PVR Ltd and Inox Leisure Ltd declined by around 6% each on Monday, 22 February on the NSE.
True, broader markets were weak as well, with the Nifty 50 index declining by 2%. Clearly, rising covid-19 cases are a big risk for multiplexes, posing a direct threat to occupancies. That's the latest factor to weigh on the sentiments for these stocks even as most Indian states have now permitted 100% occupancy at theatres.
"More covid cases would mean normalcy gets delayed. Investors also start to worry about the effect of OTT (over-the-top or streaming) platforms and delay in movie releases," said an analyst, requesting anonymity.
"After consistent reduction in new covid-19 cases in the last fe...