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Long wait before multiplex stocks regain their hit stature with investors
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Just before the fears around Covid-19 hit the Street, multiplex stocks PVR Ltd and Inox Leisure Ltd were flying high. Now, with the lockdown, these stocks are badly hit.
From their respective highs in February, these shares have declined by 41-43%. There is uncertainty on whether the lockdown of 21 days ending 14 April will be extended, depending on the intensity of the Covid-19 spread.
However, even before the current shutdown was imposed, a few states had already announced a temporary shutdown of malls and cinema theatres.
To that extent, the March quarter profits will be hit. Expectations from the June quarter, too, are running low. The adjacent chart, based on estimates by Emkay Global Financial Services Ltd, shows the impact of the
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COVID-19
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India
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