Multiplex, hotel stocks tumble as nationwide lockdown extended till May 31

Shares of multiplex and hotel operators on Monday cracked up to 14.5 per cent after the countrywide lockdown was further extended till May 31. Shares of INOX Leisure tumbled 14.49 per cent and those of PVR tanked 12.54 per cent on the BSE. Besides, Chalet Hotels plummeted 13.38 per cent, Indian Hotels Company Limited plunged 8.04 per cent, EIH Associated Hotels 5.83 per cent, Wonderla Holidays 4.91 per cent and Lemon Tree Hotels 4.78 per cent. The lockdown was first announced by Prime Minister Narendra Modi on March 24 for 21 days in a bid to combat the COVID-19 pandemic. It was first extended till May 3 and again till May 17. It has now been extended till May 31. Hotels, cinema halls and malls will remain shut till this month-end.