Cinema stocks, PVR and Inox Leisure are right there among the top five gainers on the BSE since the opening bell. PVR rose almost 6.5% to hit an intraday high at Rs.1172.10 while Inox surged 11.5% to Rs.267.50. Both the stocks are seeing a huge jump in volumes being traded.
There are rumours doing the rounds that Unlock 3.0, which begins after the Unlock 2.0 ends on 31st July, the Govt is working on new guidelines and this might include relaxations in reopening of cinema halls from August 1 but with some SOPs such as strict social distancing in place.
The news is that Information and Broadcasting Ministry (I&B) has passed a recommendation to the Union Home Ministry to allow the movie theatres across the country to reopen from August.
I&B secretary Amit Khare has recommended that theatres have alternate seats in the first row and then the next row to be kept vacant and proceeding in this fashion throughout.
Theaters have been shut down since the lockdown began in March and for them, it is imperative that doors open though its another matter completely that there are no new movies lined up for release. Also it might take people some extraordinary sense of courage or ignorance to watch a movie in a theater under the current circumstances.