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Indian multiplex firms PVR, INOX jump on merger deal

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Shares of India's largest multiplex operators PVR Ltd and INOX Leisure Ltd surged on Monday after the firms floated their plans to merge, as the entertainment industry looks to bounce back from the COVID-19 crisis and minimise losses.

their plans to merge, as the entertainment industry looks to bounce back from the COVID-19 crisis and minimise losses.

PVR shares jumped as much as 10% and were last trading up 7%, while INOX Leisure was up 14.8%, as of 0443 GMT, after surging 20% to a record high earlier in the session.

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