KRChoksey recommends, buy PVR

By siliconindia   |   Thursday, 11 June 2009, 00:33 IST   |    2 Comments
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KRChoksey recommends, buy PVR
Bangalore: KRChoksey, a brokerage firm has recommended a buy rating on PVR with a target price of Rs 160 in its June 08, 2009 research report. With this target price, if the stock is bought at today's PVR closing price of Rs 123.35, the percentage of gain would be 29.71 percent. According to the KRChoksey research report, the tussle which was going between producers and multiplex owners for more than 40 days, adversely impacted operating performance of multiplex players. However, as we know there was IPL2 also going on during that time, we believe this tussle was planned between them so that multiplex owners and producers would not lose their content which was seen in the previous IPL1. The planned release of 45 big-budget films from June onwards, supports the bullish view on the multiplex sectors. Users would have multiple choices of films over the next seven months, which works out to be 5-7 films releasing every week. Today the stock opened at Rs 130.00, but went down by 3.93 percent after reaching an intraday high of Rs 134. The stock's 52 week high is Rs 208.75. PVR has 108 screens across India with 27,827 seats (including subsidiary). SBI Magnum Midcap Fund has the highest number of shares in this stock.