Market Movers: As Covid cases increase, multiplex stocks catch error again
India recorded 4,518 new coronavirus cases on Sunday, more than double what it recorded a few weeks ago. An increase of 1,730 cases in active Covid-19 downloads over a 24-hour period.
“The multi-manufacturing industry is a very sensitive sector, the possibility of such reactions is inevitable. The recent rally predicts better business prospects after the Covid cases are settling down. However, the current spike and the resumption of restrictions force investors to rethink the pace of such recovery. These stocks will continue to move in tandem with these developments.” , Vinod Nair, Head of Research at
On Monday, more than 5% off, while PVR closed about 2%. Besides the multiplex segment, shares of the casino operator fell more than 2%, the hotel chain about 2% and more than 4%.
Orders continue to flow in
rose around 3% to Rs 540 after the company said it received a new work order worth Rs 154.89 Crores (excluding GST) in the Institutions, Housing and Coins Segment. With this, the total number of work orders received in the financial year 2022-23 so far amounts to Rs 549.62 crore, the company said in a regulatory filing.
“Also, we would also like to inform you that we have become the Lowest Contractor (L1 Contractor) for a government medical college and hospital in Gujarat with a bid value of 615.18 Rs,” the company said.
Aether Industries, which launched D-Street last week, extended gains to another day on Monday. Shares closed up more than 3% to Rs 801 per share.
Shares were up about 21% on Friday.
Brokers have mixed opinions about the counter as some see Aether as a long-term game, while others recommend investors book profits and exit the counter. . However, some of them have a partial profit booking strategy.
Santosh Meena, Head of Research,
, believes the company deserves a higher valuation due to its phenomenal growth prospects. On the other hand, Astha Jain, Senior Research Analyst, Hem Securitiesinvestors suggest to book partial profits and suggest investors keep the rest for a long time.