Inox Leisure up 2.5% on GST rate cut, multiplex opening

Share prices climbed on the rate cuts announced by the GST council on movie tickets as well as the opening of a new multiplex in Kolkata.

Dec 24, 2018 08:12 IST India Infoline News Service

Shares of Inox Leisure were up 2.5% in intraday trade on Monday as GST rates were slashed on movie tickets. Read more. 

GST on movie tickets costing up to Rs100 has been cut to 12% while tickets costing over Rs200 will attract 18% as against an earlier rate of 28%.

This will have an annual revenue saving of Rs900cr for multiplex chains.

Shares of the company climbed as the entertainment chain also announced the opening of a multiplex cinema theatre taken on lease basis located at INOX Leisure Ltd. 

The said multiplex cinema theatre has 4 screens and 809 seats.

INOX is now present in 67 cities with 134 Multiplexes, 546 screens and a total seating capacity of 1,31,310. It is one of India’s largest multiplex chains. 

Inox Leisure Ltd is currently trading at Rs245.10 up by Rs6.1 or 2.55% from its previous closing of Rs239 on the BSE.

The scrip opened at Rs249.90 and has touched a high and low of Rs249.90 and Rs242.50 respectively. So far 6,74,226 (NSE+BSE) shares were traded on the counter.

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