Multiplex operator PVR shares decline almost 4% after downgrade

Shares of multiplex operator PVR dropped 4 per cent on Monday, following a ranking downgrade by Kotak Securities.

The home brokerage downgraded the inventory from ‘purchase’ to ‘add’ and lower the goal worth to Rs 1,850 from Rs 2,121.

Shares of PVR closed at Rs 1,685, down 3.9 per cent over its earlier shut.

Kotak Securities expects the corporate’s profitability and margins to return underneath stress because of weak point in Bollywood field workplace collections.