Mumbai: Shares of multiplex operators and entertainment companies were trading higher on Tuesday after The Indian Express reported that Amazon India was in talks with firms in the film and media distribution business, including Inox Leisure, for a potential stake. Shares of Inox Leisure gained 5%, PVR advanced 2%, UFO Moviez 3%, Mukta Arts 4%, Cineline India 1%. Inox Leisure, however, said the report was factually incorrect and there was no discussion between the company and Amazon India. Inox Leisure, one of the largest movie theatre chains in the country, has around 153 multiplexes and 648 screens across the country. In FY21, both PVR and Inox Leisure saw their consolidated operating revenues drop by 92-94% on a year-on-year basis.

Source: Mint July 27, 2021 06:22 UTC