Inox Leisure resumes functioning in 10 states; closes marginally higher
During the market rebound on Friday, the multiplex stocks, Inox Leisure and PVR Ltd closed with a narrow range. However, the shares of Inox Ltd were able to register marginal gains owing to the reopening of multiplexes in select states.
The multiplex operator, Inox Leisure on Friday informed that the company has begun the process of reopening its facilities in ten states of India. The list includes West Bengal, Gujarat, Karnataka, Uttar Pradesh, Assam, Andhra Pradesh, Haryana, Madhya Pradesh, Delhi, and Goa.
As per the exchange filing, the company would further reopen units in other states when any notification is issued by the respective state authorities. The company has also issued a statement stating that it will follow guidelines of authorities when it comes to restrictions on capacity and protocols.
Recently, the rating agency-CRISIL changed its outlook on the company and assigned an AA- rating with negative implications.
The shares of Inox recovered from the day's low and closed 0.62 per cent higher at Rs 275.04.