Emkay Global Lists This Media & Entertainment Stock In Buy Category, Sees 30% Gain

Brokerage firm Emkay Global is bullish on media & entertainment stock, PVR Ltd and assigned buy call with a target price of Rs 2340 apiece. The current market price of PVR Ltd is Rs 1844 apiece. If you buy PVR Ltd today at current market price, you are set to receive 30% gain.

1. PVR Ltd Stock Performance

The current market price of the stock is Rs 1844 apiece with an intraday decline of 0.60%. The stock's 52-week high is Rs 2211 apiece and 52-week low is Rs 1224 apiece, respectively. The company has a market capitalisation of Rs 11,280 crore.

2. PVR Ltd Return

The mid-cap stock has given 40% return in last 5-years, 34% return in last 1-year, and 6% return in last 3-months. It has jumped nearly 3% in last 1-week period.

3. Bollywood Performance Improving

According to Emkay Global latest report, "In our previous notes, we have been highlighting the importance of Bollywood for exhibitors (Bollywood yet to get its mojo back and Bollywood block'bust'er performance concerning)."

The recent performance by Bollywood films seems encouraging. Drishyam 2 has been well received by audiences and is only the third Bollywood film post Covid-19 to have crossed the Rs1bn mark (net box office collections) in the first week of its release. Initial collections of Bhediya also seem encouraging and positive word-of-mouth should help drive up collections, though a clash with Drishyam 2 (released one week prior) might hurt some of its business, added Emkay Global's report. 

4. About PVR Ltd

It is India's largest multiplex player in India operating 854 screens across 173 properties. PVR Ltd provides a diversified cinema viewing experience through its formats and pursuant to acquisition and amalgamation of SPI Cinemas Escape' Sathyam' and Palazzo'.

It displays various types of content to cater to various customer segments in the country. Apart from box office revenues it generates revenue from non-box office sources such as food and beverage sales advertisement revenue convenience fees and income from movie production/ distribution.

Disclaimer

The stock has been picked from the brokerage report of Emkay Global. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.

According to Emkay Global, After a disappointing Q2FY23, box office collections have improved in the first two months of Q3FY23. As per our calculations, QTD box office collections have already crossed the previous quarter's collections with a few large movies still lined up for release in December. Check key takeaways below: