Shares of PVR INOX Ltd fell 1% on sixteenth July after touching a day’s excessive of Rs 989, following a draft notification by the Karnataka authorities proposing a cap of Rs 200 on film ticket costs throughout the state.
The rule, proposed on Tuesday, will apply to all theatres in Karnataka, together with multiplexes. It is going to be language-agnostic and embody leisure tax within the ticket worth.
As per the draft, the general public has 15 days to submit suggestions. The rule goals to amend the Karnataka Cinemas (Regulation) Guidelines, 2014, by introducing a brand new provision beneath the Karnataka Cinemas (Regulation) (Modification) Guidelines, 2025.
PVR INOX has not but responded to the proposed regulation.
In Tamil Nadu, ticket costs are already capped at Rs 150, however this quantity doesn’t embody taxes and repair expenses. PVR additionally has the flexibleness to lift costs beneath dynamic pricing in that state.
Presently, 40% of PVR INOX’s 1,761 screens are in southern India. The corporate is eyeing additional growth within the area as a consequence of larger occupancy ranges in comparison with the nationwide common. It operates 219 screens throughout 37 cinemas within the state of Karnataka.
At 12:09 PM, the shares of PVR INOX have been buying and selling 1.07% decrease at Rs 979 on NSE.
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