PVR, on account of the huge impact of Covid on its earnings and operations has decided to defer its capex plans to control costs. Theaters have been shut since March and even when it reopens, people are not exactly expected to throng in to see movies as the fear remains high and social distancing norms will limit capacity thus impeding earnings further.
In its Annual Report, the company said that its revenue and cash flow generation will get impacted even after it starts operations.
The stock is down in the red. The stock, which had closed on Friday at Rs.1386.85, it opened higher at Rs.1412 but from there, it fell to its intraday low at Rs.1348 and currently trades at Rs.1368 levels, showing a lot of volatility.