Social distancing hits India's cinema chains, theme parks

Wonderla Holidays

16/03/2020 05:56

** Shares of cinema hall chains INOX Leisure  INOL.NS  and
PVR Ltd   PVRL.NS  crash as much as 15% and 20%, respectively
amid a broader sell off in equity markets due to increasing
fears about coronavirus
    ** India has asked movie halls and entertainment parks to
remain shut in some states in a bid to curb spread of
virus urn:newsml:reuters.com:*:nL4N2B64WL
    ** Shares of amusement park operator Wonderla Holidays
 WOHL.NS  crashed over 12% to record low
    ** "These companies have to bear fixed costs even while
being shut, impact on their earnings will depend on how
prolonged the shutdown is," said Deepak Jasani, head of retail
research at HDFC Securities Ltd
    ** PVR on track for sixth straight session of losses and at
lowest level since 2016; INOX shares at record low 
    ** The Nifty Media index  .NIFTYMED  slipped nearly 9% on
Monday

 (Reporting by Chandini Monnappa in Bengaluru)
 ((Chandini.M@thomsonreuters.com; 910867497919;))