Multiplex Operators Stocks Trade Higher As Theaters May Open In Unlock 3.0

Shares of multiplex operators in trade on July 27, 2020 trade higher by up to 11% as in the Unlock 3.0 which is to start from August 1 there is a high likelihood that these entertainment companies which now have seen a shutdown of 4 months may open up.

Multiplex Operators Stocks Trade Higher As Theaters May Open In Unlock 3.0

Media and entertainment industry experts said the ministry of information and broadcasting has written to ministry of home affairs to consider restart of movie theatres that have been shut in India since the middle of March.

We're extremely hopeful of getting permissions starting August and hope to resume across states by the end of September," Gautam Dutta, CEO, PVR Cinemas said in an interview to a leading business daily.

For the first time there have been no revenues for these theater owners and they could not capitalize on the summer months when they could otherwise might have made big bucks from the big-ticket, mid-sized and small-scale films.

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