Pyramid Saimira shares dip after expansion cutback

Mumbai: Shares in Pyramid Saimira Theatre Ltd opened down 2% on Tuesday after a top official said it has cut down on its expansion plans with double-digit inflation hitting entertainment spending.

“The theatre chain has closed down 25 screens in western India and another eight in northern India in the last two months," Chairman P.S. Saminathan said on Monday.

Shares in the company were later trading down 1.6% at Rs114.10 in a weak Mumbai market.

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