Shares of PVR and Inox Leisure gained between 2 to 3 percent on Monday after the government last week reduced the tax on movie tickets to 18 percent from previous 28 percent.

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PVR shares rose as much as 2.8 percent to Rs 1607.25, and Inox Leisure shares jumped 4.56 percent to Rs 249.90 per share.

INOX Leisure shares have been rising in last six sessions and have gained more than 8 percent during the period.

The GST Council had on Saturday decided to reduce goods and services tax (GST) on cinema tickets exceeding Rs 100 to 18 percent from 28 percent and up to Rs 100 to 12 percent from existing 18 percent. The film industry welcomed the decision.

Meanwhile, benchmark indexes traded volatile with the Sensex trading flat at 35,747, while the Nifty mildly lower at 10,742, down by 11 points.

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