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Buy PVR, price target Rs 1,923: Sameet Chavan

The analyst suggested a stoploss at Rs 1747.

ETMarkets.com|
Last Updated: Dec 02, 2019, 12.37 PM IST
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PVR Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 9831.51 Crore) operating in Media & Entertainment sector.
Sameet Chavan of Angel Broking has a buy call on PVR Ltd. with a target price of Rs 1923.0 . The current price of PVR Ltd. is Rs 1814.0 . Sameet Chavan recommended to keep a stoploss at Rs 1747 .

PVR Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 9831.51 Crore) operating in Media & Entertainment sector.

Analyst View
After a sharp rally in September from Rs 1,458 to the recent high of Rs 1,897, this stock has seen a time-wise correction in last two months. On the daily chart, after trading in a corrective wedge pattern; the stock prices have broken above the higher side of wedge pattern indicating a resumption of primary uptrend. The said breakout is witnessed with a huge spurt in volume. In addition, momentum oscillator i.e. RSI has entered positive zone supporting the buy call. “Going with the broader picture, we recommend buying this stock at current levels for a target of Rs 1923 over the next 14 sessions. The stop loss should be fixed at Rs 1747,” the analyst said.

Company financials
PVR Ltd. key Products/Revenue Segments include Income From Films which contributed Rs 1508.81 Crore to Sales Value (54.93 % of Total Sales), Beverages & Food which contributed Rs 757.02 Crore to Sales Value (27.56 % of Total Sales), Income From Advertisement which contributed Rs 329.02 Crore to Sales Value (11.97 % of Total Sales), Fees & Other Charges which contributed Rs 133.95 Crore to Sales Value (4.87 % of Total Sales), Other Operating Revenue which contributed Rs 16.30 Crore to Sales Value (0.59 % of Total Sales) and Income from Films Production & Distribution which contributed Rs 1.59 Crore to Sales Value (0.05 % of Total Sales)for the year ending 31-Mar-2019.

For the quarter ended 30-09-2019, the company has reported a Consolidated sales of Rs 973.18 Crore, up 10.54 % from last quarter Sales of Rs 880.39 Crore and up 37.35 % from last year same quarter Sales of Rs 708.55 Crore Company has reported net profit after tax of Rs 47.83 Crore in latest quarter.

The company’s top management includes Mr.Ajay Bijli, Mr.Sanjai Vohra, Mr.Sanjeev Kumar, Mr.Vikram Bakshi, Mr.Vishal Mahadevia, Ms.Deepa Misra, Ms.Pallavi Shardul Shroff, Ms.Renuka Ramnath. Company has BSR & Co. LLP as its auditoRs As on 30-10-2019, the company has a total of 51,290,845 shares outstanding.

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