PVR, Inox Leisure skid up to 9% as Crisil downgrades long-term ratings

Continued restrictions for more than 3-4 months and lower-than-expected ramp-up in occupancy post lifting may result in higher-than-expected cash loss

Shares of multiplex operators PVR and Inox Leisure extended their fall on Monday, declining up to 9 per cent on the BSE in the intra-day trade, after rating agency CRISIL downgraded its rating on the bank facilities of these companies over likely delay in recovery of operating performance due to the recent spike in Covid-19 cases.

Among individual stocks, PVR slipped 9 per cent to Rs 961 while Inox Leisure (ILL) plunged 8 per cent to Rs 242, hitting over eight-month lows on the BSE in the intra-day trade today. In the past one month, PVR and Inox Leisure