Currently, movie tickets for mainstream seats attract a price of ₹150, which will be raised ₹250 + GST, while the recliner seats will be charged ₹300 + GST as against ₹250 currently.

Muliplex chain operator PVR Ltd today said it has raised ticket prices in Telangana by 50% in line with the latest directions issued by the state government, the company informed the exchanges today.

Currently, movie tickets for mainstream seats attract a price of ₹150, which will be raised ₹250 + GST, while the recliner seats will be charged ₹300 + GST as against ₹250 currently.

As on date PVR operates 62 screens across 11 properties in the state of Telangana.

On Wednesday, PVR shares have shed 1.89% to close at ₹1,260.95 apiece on NSE. In the past one week, the scrip has fallen 5.62% amid renewed restrictions in the wake of coronavirus variant.

Shares of multiplex chain operator PVR declined up to 2% on Wednesday following an order to close cinemas in the national capital amid rising number of Covid cases.

Amid a spike in Covid cases various states have imposed restrictions including closure of schools, colleges, cinemas and gyms with immediate effect and put various restrictions on the functioning of shops and public transport.

"Delhi government's decision to shut down theatres and multiplexes will certainly hit the revenues of these businesses. The greater concern is whether other governments too will follow suit as the Omicron variant spreads. There is a view gaining ground that the Omicron variant is less virulent, though fast-spreading, and therefore, might be indicating the imminent end of the pandemic. If this turns out to be true, the closure of theatres and multiplexes may be short-lived and stock prices will bounce back," V K Vijaykumar, Chief Investment Strategist at Geojit Financial Services, said.