Multiplex stocks bounce back in India despite empty theatres

On an uptrend: A worker sprays disinfectant inside an empty PVR multiplex in New Delhi. Theatre operators PVR and Inox Leisure Ltd have rebounded about 50% since May, after at least three consecutive months of losses when the world’s strictest lockdown halted visits to shopping malls, restaurants and the movies. — Reuters

MUMBAI: Investors are piling into multiplex operators’ stocks in India despite the box office window being shut for four months, hoping that cost cuts and sufficient liquidity will aid the companies to ride through the disruption.

Theatre operators PVR Ltd and Inox Leisure Ltd have rebounded about 50% since May, after at least three consecutive months of losses when the world’s strictest lockdown halted visits to shopping malls, restaurants and the movies.