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Delhi government announces closure of multiplexes due to Omicron spread

News: The Delhi government has issued a yellow alert closing down cinema halls with immediate effect owing to spread of omicron variant. The Multiplex association has asked the government to reconsider the decision and opt for curbs such as 50% occupancy/fully vaccinated entry, etc.

Views: We highlight that Delhi contributes ~8-10% of box office collections. Thus, the release pipeline could be impacted along with recent release collections. Moreover, there also persists risk of similar announcement by other state governments.

Impact: Negative